Bank Nifty — Wave 5 Meets 100% Extension Resistance

Bank Nifty completed its five-wave rise with Wave 5 ending exactly at the 100% Fibonacci extension of Wave 1, a classic termination level when Wave 3 is extended.

Inside this zone, price printed a Hanging Man followed by a bearish confirmation candle. The confirmation is not strong, but together with the Fibonacci symmetry at the Wave-5 target, it reflects clear exhaustion.

A corrective phase from this region is reasonable.
A strong reclaim above the recent high would invalidate the exhaustion and reopen the upside.

Disclaimer: This analysis is for educational purposes only and does not constitute investment advice. Please do your own research (DYOR) before making any trading decisions.