2 things plotted here.
1 - Fibonacci retracement. Today it has crossed 50%, and the 61.8% retracement is at 26175 which is still a way to go.
2 - BANKNIFTY is moving in a channel and to me, it STILL looks like a bearish flag which can break down. It would be rare where it can breakout on the upperside. So I still have a negative bias.
Any other observations