Final answer:
The correct pronoun is 'her', which is used both in the possessive case to indicate that the graduation belongs to Malika and in the objective case as the recipient of the action.
Step-by-step explanation:
The correct pronoun to use is her, as it is used here as a possessive pronoun referring to Malika (implying 'her graduation') and also as an objective case pronoun referring to Malika (implying 'at her'). When determining the appropriate pronoun to use, it's important to consider whether it functions as a subject, object, or shows possession in the sentence. In the given sentence, 'her' is used in the possessive case to show that the graduation belongs to Malika, and in the objective case when referring to whom the action of waving is directed (towards Malika).
Subjective case pronouns function as subjects (e.g., 'I', 'we'), while objective case pronouns function as objects (e.g., 'me', 'us'). Possessive case pronouns indicate ownership (e.g., 'my', 'her'). Remember not to replace personal pronouns with -self pronouns unless they are functioning reflexively, in which a subject and object refer to the same entity (e.g., 'She treats herself').