Go Bullish on BANKNIFTY above 48,600 only

Many will try to take a reversal trade in BANKNIFTY given that:

1. It has fallen so much

2. The inflation data has come out mildly positive for the market.

Please remember that it might be a temporary bounce. We will go bullish only above 48,600.
Till then, it is a 'sell on rise' market.