BANKNIFTY SMALLER TIME-FRAME INVERTED HEAD AND SHOULDERS

SUMMARY*
-Index has made a inverted head and shoulder pattern
-expect short-covering above 37000
-upside minor resistance @37200-37400
-once 37400 is gone start of 38070 opens up
-some banks showing relative strength in AXIS BANK/ICICI BANK AND SBIN BANK

BANKNIFTY FUTURES TRADE CONDITIONAL
BUY@37100(ABOVE 37080 ONLY)
STOP@36900
TARGET@37350-37480-37800

EXTENSION ABOVE 38070 ONLY