38500- 38800 zone may act support

BankNifty — Last friday there was a gap up but index failed to hold at these level and we saw a selloff from these levels.

Situation 1- After gapdown index may take support @ 38800 level and bounce towards 39550.

Situation 2- If index failed to hold above 38500 then further correction possible.

#Note - The idea is shared for educational purpose and not a trade recommendation, Please trade after consulting your trade advisor. We don't give any assurance of profit or loss.