Mr. Ruchit Jain (Equity Technical Analyst, Angel Broking Ltd)
"Post-testing the 30000 mark during last week, BankNifty witnessed some profit booking for a couple of trading sessions. However, since the broader trend for the market is up, traders used this dip as a buying opportunity today and hence, the index resumed its uptrend with gains of 600 points. We continue with our positive view on the banking space and expect this rally to continue. We also expect participation from both Private sector and the PSU banks in this upmove."