Today will be slightly gap up opening expected in banknifty. Expected opening near 50950 level. After opening it will face immediate resistance at 50950 level and there will be downside movement possible from this level. This downside can further extend for 400-500 points in case banknifty starts trading below 50450 level in today's session. Any upside movement only expected if banknifty starts trading and sustain above 51050 level.
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