Bank Nifty Spot -
If a 5 wave is in progress from 31599, then wave counts are as -
1. 31599-30259=1340
2. 30259-31082=823
3. 31082->29230(138.2%)/28914(161.8%) - done @29053?
4. 29053->29523(23.6%)/29828(38.2%)/30068(50%)/30307(61.8%)
If corrective 4th wave starts, find out what is the nature of subwave 'a', is it a/b/c or in 5 waves.
If bank nifty falls further on monday, look for support near 28938. If 28938+/- level doesn't hold, next possible level could be 28626.
Long above 29250, confirmation above 29320/29416. Short below 29077.
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