Bank Nifty Analysis (1D Chart)

Bank Nifty is currently testing a crucial resistance zone at the 0.618 Fibonacci retracement level of **51,318.25**. This level is known for being one of the strongest resistances in bearish Fibonacci setups, often marking a potential reversal point.

The market is at a critical "make or break" level. A decisive break above this 0.618 level could invalidate the bearish setup and lead to a bullish continuation, potentially targeting the next resistance at the 0.786 level of **51,771.20**.

However, if Bank Nifty fails to break this resistance, it may resume its downtrend, with the next support levels being the 0.5 Fibonacci level at **51,000.15** and the 0.382 level at **50,682.00**.

Traders should closely watch the price action around the 0.618 level, as it will likely determine the next major move in Bank Nifty.