Banknifty Anaylsis

Banknifty is still underperforming Nifty. According to the patterns visible on chart, from here we can see Banknifty take resistance at 35500 - 35600 area while on the downside price is respecting a rising trendline which is forming a Ascending Triangle pattern on chart. Further price action is dependent on the Breakout of Ascending Triangle pattern which will open new resistance and support zones which are 37000 & 34000 respectively.