Banknifty June 3rd Week Analysis

Banknifty can remain highly volatile, and we can expect a green bar on weekly charts . Expecting short covering from lows if we do not get any fresh global uncertainties. Imp levels to watch on the downside are 55200 and 54800 .And if banknifty breaches 54800 on the downside then we can expect further retracement upto 54500-54000. On the upside, Banknifty must cross and sustain above 55750-55950 . 

All levels are marked in the chart posted.