Today's breakout in #NIFTYBANK looking fake to me. If it really was a breakout and not short covering all major banks such as HDFC, SBI, Kotak and other PSBs should have performed as well. Only Axis and ICICI were two majors who performed. Looking like call unwinding took place and fresh calls will be written at higher and current levels. Nifty 10800 saw major call unwinding by 10 lakh contracts in the last 10-15 minute for 9th July Expiry. Don't know what to make of this. If fresh longs are added in banknifty tomorrow or this week, nifty is headed to test both psychological and weekly chart resistance of 10990-11k #NIFTY50 #SBIN #HDFCBANK #KOTAKBANK