So another day of consolidation for both Bank Nifty and Nifty, Prices opened lower than yesterday and although there was a bit of a push for higher prices, overall the index closed again in the negative territory.
We seem to be in the X wave and after completing the X wave a double Zig-Zag looks like the probable way for Bank Nifty. I have drawn the expected pattern if Bank Nifty finds support on the lower support line. If not then we can say that another 5 waves down should be on the cards.
This is the most likely way Bank Nifty is expected to go , if we see a gap up opening on Monday its safe to say that this pattern is valid.