Banknifty January 2nd Week Analysis

Banknifty is looking crucial. Now , if it doesn’t give upside, then it can fall up to 49100. Imp levels on the downside for a probable short covering are 50600, and if we breach this level, then 49100 will be the imp level for bulls. For upside, 51580 will be the imp level, and if we cross this level, this strong upside is expected. All levels are marked in the chart posted.