Banknifty January 5th week analysis

Banknifty is looking uncertain. The downside risk is still open, and the range of 47600-100 will be crucial for short covering. And on the upside, 48900 will be a very important level for upside in Banknifty. Once Banknifty crosses and sustains above 48900, then it can go upto 49600-700. Although I expect banknifty to close in green on weekly basis .