Banknifty May series ( 1st week analysis )

Banknifty can retrace upto 3% in the upcoming week. Single charts are indicating a sell-off . But if market sentiment remains positive, then we can expect it to remain volatile and flat .
Levels to watch on the downside are:
1.)54087
2.)53775
3.)53525
4.)53244
These are the levels which will act as a support and can become a probable zone for short covering.
Upside: If due to any factor, only above 55050 and upto the previous high of 45150-300.