Flat opening expected in index. Currently banknifty giving consolidated movements. near 48000 level. Upside 48450 level is acting as a strong resistance. Any bullish side rally can reversal from this level. Downside possible below 47950 level. In case banknifty starts trading below this level then possible fall upto 47550 level. Any major trend movement only expected if banknifty starts trading above 48550 or below 47450 level.
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