Bank nifty Falling Channel Breakout

Index managed to to close in green for the first time in this month, it bounced off from the intraday lows to close meaningfully green, Break of previous candle high of 47868 would bring us the following levels on the index in no time -

1st target - 48250
2nd target - 48660
3rd target - 49000/050

Long traders should stay cautious if the index starts reversing downside and starts sliding below 47450/500 levels!

(+/- 50 points every mentioned levels)