BANKNIFTY ANALYSIS

Yesterday was a consolidation type of market, where the the buyers were unable to take out the previous highs. I had a bearish view, but the bears failed to get a follow through below 22,850 and the market moved towards the upper end of the range. This happened twice through the day yesterday and both the times the market moved above 23,100.

These are highly bullish sings and we may see BankNifty making fresh highs today and move towards 23,200 - 23,400.

Buy on dips is the strategy to utilize in this bull market.