Bank nifty is in the 3rd sub wave of a wave 1 in major wave 3. The correction i.e. iv sub wave may finish at 53940 and then sub wave v will resume of major wave 1. wave v of major wave 1 may get over at 57192 level and then correction of wave 2 of wave 1 will resume.
This is my idea and should not be considered for trading. kindly treat this only for educational purpose.