BankNifty opened with a gap down of 400+ points and took the support of 47900 and reversed till resistance zone of 48550 in the second part of the trading. Now the resistance zone of 48250 is a support zone.
If BankNifty sustains above the resistance of 48550 we can expect a upward movement to below resistance levels
Resistance 1 48550
Resistance 2 48800
Resistance 3 49000
There is no change in support levels. If BNF moves downward and breaks the major support at 48350. We can expect further 200 points down move till 48150.
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