Banknifty- consolidating around R3, preparing to surge to 39k

11 apr 2022

Banknifty struggled yet agin to sustain above R3 (37650 levels).This is yet another session closing around R3 resistance. Once breached, the journey to R4 should be swift---which means 39k will be within strike. FII selling kept the momentum bearish. CPR is narrow tomorrow, day before expiry---so a trending day is expected. Good corporate results could get the momentum going anytime now. What do you think?