After losing momentum at 56000 for 2 consecutive weeks, I expect Banknifty to retrace up to 53500 in the upcoming week. The only scenario to avert this retracement would be that Banknifty closes above 55600 on a daily basis and crosses 56200. Then, we can expect a new all-time high of 57000+.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.