Bank Nifty is expected to open with a gap-up, indicating early bullish sentiment. However, price action near the 56,450–56,500 zone will be crucial in deciding the day’s direction. If Bank Nifty manages to sustain above the 56,650 level after opening, it may invite fresh momentum on the upside. A move above this zone can be seen as a strength confirmation, potentially pushing the index toward targets of 56,750, 56,850, and even 56,950+ levels.
On the other hand, if the index faces resistance and shows rejection from the 56,450–56,400 supply zone, weakness can creep in. This could trigger a corrective move toward the lower levels of 56,250, 56,150, and 56,050-, making it a favorable short trade setup for the day if confirmed by price action.
Additionally, a breakdown below the 55,950 support level can lead to strong bearish pressure. If this level is breached and sustained, the index may fall sharply toward the support zones of 55,750, 55,650, and 55,550-, indicating bearish continuation.
On the other hand, if the index faces resistance and shows rejection from the 56,450–56,400 supply zone, weakness can creep in. This could trigger a corrective move toward the lower levels of 56,250, 56,150, and 56,050-, making it a favorable short trade setup for the day if confirmed by price action.
Additionally, a breakdown below the 55,950 support level can lead to strong bearish pressure. If this level is breached and sustained, the index may fall sharply toward the support zones of 55,750, 55,650, and 55,550-, indicating bearish continuation.
📈 Trade Smarter with TradZoo!
🔗 Website: bit.ly/tradzoopage
📣 Telegram: t.me/tradzooIndex
📲 Android App: bit.ly/TradZooApp
📲 Forex App:tradzoo.com/forex/download
🍎 iOS App: bit.ly/TradZoo-iOS-App
🔗 Website: bit.ly/tradzoopage
📣 Telegram: t.me/tradzooIndex
📲 Android App: bit.ly/TradZooApp
📲 Forex App:tradzoo.com/forex/download
🍎 iOS App: bit.ly/TradZoo-iOS-App
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
📈 Trade Smarter with TradZoo!
🔗 Website: bit.ly/tradzoopage
📣 Telegram: t.me/tradzooIndex
📲 Android App: bit.ly/TradZooApp
📲 Forex App:tradzoo.com/forex/download
🍎 iOS App: bit.ly/TradZoo-iOS-App
🔗 Website: bit.ly/tradzoopage
📣 Telegram: t.me/tradzooIndex
📲 Android App: bit.ly/TradZooApp
📲 Forex App:tradzoo.com/forex/download
🍎 iOS App: bit.ly/TradZoo-iOS-App
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.