From a longer perspective, there is a still problem in BANKNIFTY

• Long term tight channel since 2016.
  
• 3 excesses at the value and one excess at value low.
  
• 5 waves are completed.
  
• A previous Resistance and Wave(3) at28227(can be upcoming support).
  
• 50 days moving average is at 28080 nearby (too far for work as support).
  
• Measurement of all falls mentioned in the chart, as per this measurement expected current until 13th Aug 2019(approx. plotted).
  

Conclusion: From a longer perspective, there is a still problem in BANKNIFTY.