The Nifty Bank Index last week ended at 57,776.35, posting a modest +0.13% gain. The index showed signs of indecision near the recent high, indicating that the market is pausing after a strong bullish run in October.
🔹 Key Levels for the Upcoming Week
📌 Price Action Pivot Zone:
57,656 to 57,897 – This blue-shaded range marks the key decision area. Sustaining above this zone may invite renewed buying interest, while a close below could lead to mild profit booking.
🔻 Support Levels:
S1: 57,297
S2: 56,819
S3: 56,426
🔺 Resistance Levels:
R1: 58,259
R2: 58,741
R3: 59,335
📈 Market Outlook
✅ Bullish Scenario:
If Bank Nifty sustains above 57,897, a move toward R1 (58,259) can be expected. Sustained strength above this level may open the path toward R2 (58,741) and R3 (59,335) in the near term.
❌ Bearish Scenario:
If the index falls below 57,656, short-term weakness may drag it toward S1 (57,297), followed by S2 (56,819) and S3 (56,426). A weekly close below 57,200 could signal the beginning of a corrective phase.
Disclaimer: lnkd.in/ge86Wx-X
🔹 Key Levels for the Upcoming Week
📌 Price Action Pivot Zone:
57,656 to 57,897 – This blue-shaded range marks the key decision area. Sustaining above this zone may invite renewed buying interest, while a close below could lead to mild profit booking.
🔻 Support Levels:
S1: 57,297
S2: 56,819
S3: 56,426
🔺 Resistance Levels:
R1: 58,259
R2: 58,741
R3: 59,335
📈 Market Outlook
✅ Bullish Scenario:
If Bank Nifty sustains above 57,897, a move toward R1 (58,259) can be expected. Sustained strength above this level may open the path toward R2 (58,741) and R3 (59,335) in the near term.
❌ Bearish Scenario:
If the index falls below 57,656, short-term weakness may drag it toward S1 (57,297), followed by S2 (56,819) and S3 (56,426). A weekly close below 57,200 could signal the beginning of a corrective phase.
Disclaimer: lnkd.in/ge86Wx-X
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.