27700 will act a key level. If it sustains above, then the immediate levels will be 28000 and 28200 before a fresh round of selling.
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The index reached 28126 before a fresh round of selling commenced exactly as predicted and retested earlier lows. Now, with Friday's massive move, it has taken out all these levels. Expect BankNifty to close above 29250 this expiry but will face stiff resistance around 29500