Banknifty start it correction from 28dec 2023 and complete a flat correction on 10jan 2024 .
After that it not able to cross the high of A wave
So it start developing in a complex correction and form a X wave on 16 Jan 2024 .
Now it is in a form of a ZigZag correction and we are in C wave on zigzg correction
Also from time prospective it almost 33days which is near to fibonacci number 34 .
So cover your short and wait for confomation in buying side.
After that it not able to cross the high of A wave
So it start developing in a complex correction and form a X wave on 16 Jan 2024 .
Now it is in a form of a ZigZag correction and we are in C wave on zigzg correction
Also from time prospective it almost 33days which is near to fibonacci number 34 .
So cover your short and wait for confomation in buying side.