After a steep fall in the banknifty, which have lost 11% in the last month. Currently, we can see some sign of relieve for the index. As seen index forming a positive divergence between the Bankinifty and the other Momentum indicators. Hence we would like to place buy above 16400 for targets till 16700-16989 with Sl near 16210 closing.
Nishant Bali, CMT