#Banknifty directions and levels for February 5th:

In the previous session, Bank Nifty had a solid rally, suggesting further continuation. However, We can expect a rally only if it effectively breaks through this supply zone. If it does, we can anticipate a solid rally. However, if it rejects around the supply zone or if the market declines initially, we can expect a minimum retracement of 38% to 61% in the minor swing, using the Fibonacci levels from the swing low to the upcoming high (from 48,906 to the anticipated high)