#Banknifty directions and levels for April 9th.

9 apr

Banknifty didn't match the performance compared to the nifty. However, it also has some bullish sentiment, so if the gap-up sustains, we can expect a rally continuation with minor consolidation. The reversal will be considered only if it breaks the Fibonacci level 38%, while if it rejects the major resistance level.

An alternate view indicates if the gap-up doesn't sustain or if it rejects around the immediate resistance level, then we can expect a minimum of 23 to 38% correction.