Breakout and Retest done technically. It may go down to Yellow Trendline but not compulsory. One Big Daily Green candle with high volume will be the reversal of the trend..
Banknifty as well as nifty might correct 20-25% in coming 15-18 months. Correction might start before general election results. This time market will not wait for the general election results. It will start viciously doing price correction between MAY24-SEP24 and will be a slow time correction in later time i.e. OCT24-OCT25 Better hedge you portfolio and sit with...
IF BNF crosses 48900 by Thurday, it may go upto 50700-51200 level. It may go up slow or fast. It will be a pure price movement towards up just to make everyone bullish again BUT it will reverse immediately from the levels before mid JUNE. By any chance if market opens deep red (below 47650) then it will just bounce to go deeper next time.