BANKNIFTY looks weaker than expected and moving towards it 200 DEMA. Yesterday index broke down its 100 DEMA and moved towards 200 DEMA. RSI is also in process of making positive divergence.
BankNifty may see buying pressure at around its 200 DEMA.
Index is moving in an upward channel for almost 1 year 8 months. Index may see buying pressure at around it 200 DEMA and see a small bounce after which again there could be a correction till channel bottom in June Month.
Keep trailing your SL your shorts. Buy only on Wedge breakout.