#Banknifty directions and levels for May 24th.

BankNifty also has a solid rally structure. Here, we will follow the same sentiment as mentioned for Nifty. If the gap-down sustains, we can expect a minor correction of up to 23% to 38%. After that, if it finds support, the rally will likely continue with some consolidation.

Alternatively, if the gap-down doesn’t sustain and there is an initial sharp pullback, the rally will likely continue with some minor consolidation.