BankNifty has strong resistance in the zone of 19150-19275. We booked profits, will enter again on dips. As we can see in the chart above that weekly downward sloping line has lowered it by 40-50 points, earlier it was 19200. Today is expiry it could be volatile so be careful. Looking at components of banknifty, not much room for upside at this juncture. Results of another heavyweights, ICICI bank (on 31st Jan) & SBI, later will decide when BankNifty will breakout above 19275. Till then move should be side ways in 19000-19275 zone.
Comment:
Went out to touch final resistance 19275 (19267). Wait on the sidelines.
