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Elliott Wave setup shows multiple 1.618 Fibonacci projections aligning as the long-term 3rd wave approaches key levels.
A sustained move above 26694.5 would invalidate my current bearish corrective scenario and force a reassessment of the Elliott Wave count. We’ll update the Nifty trade setup soon for premium members.
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From the 2020 low near 16116, Bank Nifty developed a five-wave impulse, completing Wave ((I)) near 41829 in late 2021. The internal structure is marked (I)–(II)–(III)–(IV)–(V) on the chart.
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