Banknifty takes support at Monthly CPR

BankNIFTY has taken support at Monthly S1 and trading within range at Weekly S2. Break above 39500 today will take it to 40000 over the next 1/2 days. 500 move up likely from Support. Break down below Monthly S1 at 39160 will take the market down to 38650. To me the Expiry is likely to be within this range. We will wait and see and what happens next..