In today's trading session banknifty had a breakout and hold above very important resistance zone @22050. Now banknifty may face next resistance @22500. If banknifty successfully break this resistance we will see quick move-in banknifty for the target of 22950. According to options data, it is more possible to break the 22500 resistance level but due to monthly expiry profit booking possible @22500 and @22950 Level. Probably banknifty remain sideways in the first half between 22050 to 22500 level if opened below 22500 level and in the second half, we will see the breakout of 300-500 points in banknifty due to huge short covering.
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