If that is surpassed, which looks a possibility markets can rally higher up to 17400 to 17530 levels.
On the downside a break of 17150-40 levels can lead to a retest of the supply zones of 16900-950 levels
For the upcoming session the candle doesnt look promising. it will be important to see that BANKNIFTY manages to sustain above the 17140-160 levels for the upside trend to resume. This time if 17320 is crossed expect a straight away dash towards 17500 levels. On the downside a break below 17140 can mean a test of 16950-17000 zones. For the swing traders 16900 is a strong base to look for contrarian opportunities if those levels are tested.