As per my analysis, Banknifty has exactly retraced 50%.
Now for further bullish rally it must take support of 0.35 levels i.e 39600 in round figure.
We do see support at that level, but we also see a strong resistance at 40000 levels.
Moreover i feel market to go sideways in first half and then move in one direction.
Now for further bullish rally it must take support of 0.35 levels i.e 39600 in round figure.
We do see support at that level, but we also see a strong resistance at 40000 levels.
Moreover i feel market to go sideways in first half and then move in one direction.