Wave 3 in progress | Long-term positional outlook
Current Market Status
BankNifty is currently trading around 60,100, continuing the impulsive Wave 3 structure within the rising trend channel.
🎯 Wave Targets
Wave 3 Upside Targets
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63,921
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67,691
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73,750 – 77,500 zone (Major resistance cluster)
Wave 3 projection suggests bullish continuation as long as key supports hold.
🔄 Expected Wave 4 Correction Zone
Possible supports for Wave 4 retracement:
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57,850
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54,937
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52,400
Wave 4 expected late 2026, likely to be sideways or shallow, not a major crash.
🚀 Wave 5 Long-Term Target
After Wave 4 completes, Wave 5 may extend towards:
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99,400
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1,02,222
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1,05,000
Projected Timeline: 2027–2028
🔎 Technical Indicator
RSI: 71 — bullish momentum but slightly overbought, may consolidate before continuation.
📍 Strategy
Buy on dips approach remains favorable.
Long-term SIP and positional trades could benefit from the Wave 5 target zone.
Summary
✔ Wave 3 running – bull trend strong
✔ Buy near support zones
✔ Wave 5 projection towards 1 Lakh+
💬 What’s your target for Wave 3? 67K or 75K?
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