BANKNIFTY – Elliott Wave Analysis (1D) - 29-NOV-2025

 BANKNIFTY is currently in a strong impulsive structure headed towards Major Wave (3) completion, with Wave (4) pullback likely before a powerful Wave (5) rally.

---

Wave Count Summary

🔹 Wave 1 & Wave 2 completed
🔹 Currently inside Wave 3 (subwave 5 in progress)
🔹 Wave 4 expected zone identified (blue support range)
🔹 Major upside continuation expected in Wave (5)

---

Key Levels

Immediate Price Levels

• Support Zones:
  59,695 / 59,010 / 57,630

• Wave 4 Support Zone Range:
  59,695 – 57,630

• Immediate Resistance / Breakout Zone:
  61,355 – 62,355

Trend Confirmation

📌 Break above 63,900–65,825 → Confirms strong continuation toward new lifetime highs

---

Wave (3) Target Box

🎯 63,900 – 65,825 – 67,689

---

Wave (5) Projection Zones

🚀 69,600 / 71,070 / 72,500 / 73,755
🟣 Mid-term extended targets:
77,500 / 83,555 / 92,050

---

Trading Outlook

📈 Bullish bias remains intact above 59,695
🟦 Best entry area expected if market dips into Wave 4 zone
🎮 Buy on dips & ride Wave (5) rally

Risk Levels

❗ Wave count invalidation only below 57,010

---

Summary

• BANKNIFTY is in Impulse Wave 3, heading towards Wave 5 targets

• Big rally expected once 63,900–65,825 zone breaks

• 2026 looks extremely bullish for banking sector expansion

---

💬 For educational Elliott Wave study – not a trade recommendation

https://in.tradingview.com/chart/BANKNIFTY/wk9pUFfv-BANKNIFTY-Elliott-Wave-Analysis-1D/