Update on Banknifty Spot

This has to rise above the falling channel resistance at 18430-18450 and trade comfortably. Banknifty will be out of the woods thereafter otherwise the rally may be an x-wave after one set of a-b-c corrective. From the Month's prospective (today) Bankifty may love to defend 18667 and from the Week's (tomorrow) 18299(approximately).