Setup Intact, Eye on Wave 5?

This is a follow-up to my earlier analysis on Canara Bank, where we identified the completion of an ABC correction and the start of a fresh impulse.

What’s happened since:

• Price respected the projected Wave 3 (yellow) target of 109.50 – exactly 1x of Wave 1.
  
• A healthy correction is underway, likely forming Wave 4 (yellow).
  
• The pullback is holding within the 0.236–0.382 retracement zone (105.12 to 102.63) – make-or-break zone.
  

What’s next:

• If the structure holds above 102.63, a bullish Wave 5 (yellow) may extend the rally toward the 120+ zone, completing Wave 3 (green).
  
• Break below 102.63 invalidates the count and opens the door to a more complex correction.
  

This is for educational purposes only.