#Banknifty directions and levels for July 24Nifty Bank IndexNSE:BANKNIFTYManickamtradersCurrent View: The current view suggests that, as mentioned above, if the gap-up sustains, we can expect a rally continuation with some consolidation. In this case, the parameters are showing slight strength, so the rejection zone may act just around the minor resistance. Alternate View: The alternate view suggests that if the gap-up does not sustain or if the market rejects near immediate resistance with a solid reversal, then we can expect a minor correction of around 23% to 38%. However, unless the market breaks below the 38% level, we cannot confirm a reversal into a bearish trend.