since few sessions before when we established that the 24850 is a base, Banknifty had a relentless rally to reverse the mid term swing. long term view still remains short.
Hence sooner or later it will give a good short opportunity. For a day trading point of view yesterday lot of consolidation happened at the top, indicating
some fatigue from the long side players. Now we have a major retracement at 25880 and swing resistance at 25950-970 zones. These zones if tested can give good short
opportunities for the traders. On the downside intraday support now emerges at 25640-50 zones.
until 25550 is taken out convincingly. On the downside now trading below 25000 levels keeps the targets of 24550 open.
Downside targets for now are 24150 in case we continue to trade below 24650 levels
Low made just at the target zones.