And the SLUGGISHNESS continues..

As we can see BANKNIFTY remained sideways after opening weak but didn't let itself fall further making 51250 the final SUPPORT. our view had been negative following the structure of falling wedge despite BANKNIFTY showing strength in short term. HENCE as soon as BANKNIFTY breaches 51250 level and sustains below, we may see a sharp directional fall so plan your trades accordingly.