Banknifty heading towards 49000

BankNifty has recently undergone a retracement, bouncing off the 0.618 Fibonacci level. This retracement coincides with the emergence of a morning star pattern, a potential bullish reversal signal. The technical analysis suggests a favorable setup for an upward movement, with specific target levels indicated on the charts. Traders may consider monitoring these levels for confirmation of the anticipated upward trend continuation.