Banknifty March 4th Week Analysis

Banknifty is looking positive and it can continue this rally, especially after crossing and sustaining above 50730. On the upside, we can expect levels upto 51400-570 . If it fails to cross or sustain above 50726, then it can remain range-bound, and we can even expect a small retracement of the recent rally. An imp level for short covering would be 50178. With different support levels placed at 503838 and subsequently at 50041-49835, all levels are marked in the chart posted.