This Chart indicates, that Banknifty momentum maybe slowed down and Nifty will begin to catchup, to ensure that the ratio remains in the range, if the ratio breakouts of the range, we may see spike and sudden sell-off to overcome, let other sectors participate and the spike is healthy.
This is just my view, if all Levels are held, we can surely see the above levels, as sideways and option chain indicating a sharp upside move. Once move starts, momentum and short covering will push it further up, breaking odd levels and thereby we might soon see 16K levels, we may not sustain owing to multiple rejections in the past.
