Nifty Bank looks headed for bullish reversal towards 52,500: Rupak De

economictimes.indiatimes.com:

Nifty Bank, which has been underperforming in the last few weeks, looks ready for a smart recovery in the short term. «Going forward, a move above 51,500 might induce a decent rally towards 52,500. On the lower end, support is placed at 51,000,» says Rupak De, Senior Technical Analyst, LKP Securities.

Edited excerpts:

How would you read Friday's rally? It appeared as if traders were waiting for the July series to get over before buying again in the August series.
Nifty had a decent rally on Friday following a period of downward consolidation in the previous few sessions. The index sustained above the 21 EMA at closing, setting the stage for solid gains in the near term. Banks, which had not been supportive in the last few sessions, came in with their full support. The sentiment looks apt for a strong rally in the market. Technically, Nifty has made a decisive move above 24,600, which acted as a strong resistance level in the recent past. Going forward, the trend is likely to remain strong as long as it stays above 24,500.

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Nifty Bank underperformed last week. Given the not-so-positive news floating around, how would you go about trading the index in July expiry?
Nifty Bank, which has been underperforming in the last few weeks, looks ready for a smart recovery in the short term.