Timeframe: 15-min
The NSE Bank Nifty has formed a double zigzag pattern on the 15-minute timeframe chart. The final wave C of wave (Y) in the double zigzag occurred at 51749 and has started rising for an upward move. The move that was rejected from wave B of wave (Y) could be identified as wave 1 of a new cycle, with the low at 51874.55 labeled as wave 2 of the impulse cycle.
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