Banknifty can have two possible scenarios. It is in correction of 5 wave while in 4 of 5.
4 looks completed and we are in last leg then temporary pause of fall expected.
Red : most likely scenerio. Below 50300 we are short for impulse down 💰💰
Green: less likely but we are still in wave 4 it will tests our patience should move very slow up towards 50900-51000.
Disclaimer: This post is for educational purpose. No trade/ buy/ sell signal is suggested or advised. Do your own analysis before buying or selling any stock/options.