Banks looking really good, especially sbi, icici, kotak, and rbl etc., where they are trading near breakout level, while rsi is cooling off, which is very good sign, only concern is hdfc bank where stock seems in pressure, may be that to keep banknifty down and confuse public to exit their position. However if we do analysis for banknifty chart which clearly indicates the target of 40450(40400-40500) for double bottom formation (W) as currently spending time near breakout zone after fantastic journey is a very good sign of upmove, 39600 n 39760 these 2 level would be on alert for 1st n 2nd entry. Above ema20,50,200 , rsi >60 on D/W/M.
