#Banknifty directions and levels for February 14th:

Current View

We are in the mid-level of the current swing, so we cannot take a single-direction approach. However, the trend shows a slightly bearish bias. If the initial market declines, we can expect a minimum downside of 49,159. This is an Expanding Flat correctional pullback zone. If the market rejects sharply from this zone, we can expect a pullback that could at least reach today’s opening level.

> On the other hand, if the decline has a solid structure and breaks this zone or consolidates around it, the correction is likely to continue.

Alternate View

The alternate view suggests that if the market sustains the gap-up, 49,716 will act as a major resistance. So, until this level is broken, we can expect consolidation within the previous day’s range. If it breaks with a solid structure, the next target will be the top of the channel.