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Bank Nifty EOD Dec 21 - Ready for Big Down Move!

Today Bank Nifty opened minor Gap Up. I was expecting Gap Down (I mentioned in yesterday's post), but correction that I thought is completed continued as complex pattern as shown in below 15 min chart.
Correction looks completed as index moved below channel line connecting (b)-(d) and also come back near channel line as normally happens with these patterns.


Today's correction completion looks like wave b of wave 3's a-b-c pattern. There is alteration in wave count to what I posted in yesterday's chart. Wave a is started at 18532 and completed at 18009. Wave b completed at 18167 today. Wave c down is in progress. Expect Gap Down Tomorrow, as that is personality of wave c (wave c of 1 & 2 were very sharp). 

Target for wave c (Wave 3)
Based on Wave a → 18532-18009 = 523
                                                    Target
61.8% of wave a    = 323   →    17844
100% of wave a     = 523   →    17644
123.6% of wave a  = 646   →    17521
138.2  of wave a    = 723   →    17444

Inside Pitchfork 1 SD line (that gave support on Dec 7 RBI low and index bounced quickly from it) shows possible target as 17670.
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