Today banknifty completed a bullish cypher shape which is a harmonic trading price pattern and thus resembles a good opportunity to trade it on the long side.

200 DAY SIMPLE MOVING AVERAGE AND EXPONENTIAL MOVING AVERAGE PROVIDING A SUPPORT AREA ON 4 HOURS CHART AROUND 24000 LEVELS.

So my opinion that this is an opportunity for big bulls to create longs with a strict stop loss at 23900 upside seems minimum upto 23500 and then 23700..