Today will be gap down opening in banknifty. After opening if banknifty starts trading below 49450 level then possible downside target upto 49050 level in opening session. This downside rally can be extend for further 400-500+ points in case banknifty gives breakdown of 49000 level and starts below 48950 level. Any strong upside rally only expected if banknifty starts trading and sustain above 49550 level.