Reliance might bounce back from 1960 levels to take the market up in my opinion. Only for education purpose, please don't trade on this .
1. Fib retracement 50% is at 1990.
2. It is trading in small channel since last few days. Any break above it will give good volumes on upside.
3. Long term support line is near 1950 to 1970 zone.
Given all these factors,...
BN has a lot of resistance around 23K, only possibility of it crossing if SBI and ICICI start moving up. Possible SBI upmove this week, keep a watch if it crosses 204 then quick upmove might come. Only for educational perspective. Don't trade on this idea.
If it breaks level mentioned then we can see 400 points down move. Lets see if Monday holds it. My analysis is on 15 min chart and only for educational purpose. Please don't trade but just observe if this chart pattern works.