Bank Nifty ended the week at 56,283.00, registering a marginal decline of -0.83%.
🔹 Key Levels for the Upcoming Week
📌 Price Action Pivot Zone:
The critical zone to monitor for potential trend reversals or continuation lies between 56,165 and 56,402.
🔻 Support Levels:
Support 1 (S1): 55,811
Support 2 (S2): 55,338
Support 3 (S3): 54,859
🔺 Resistance Levels:
Resistance 1 (R1): 56,759
Resistance 2 (R2): 57,236
Resistance 3 (R3): 57,865
📈 Market Outlook
✅ Bullish Scenario:
If Bank Nifty sustains above the pivot zone (56,402), it may trigger renewed buying interest, potentially pushing the index toward R1 (56,759) and higher levels like R2 (57,236) and R3 (57,865).
❌ Bearish Scenario:
A breakdown below the lower end of the pivot zone at 56,165 may attract selling pressure, dragging the index towards S1 (55,811) and possibly lower levels like S2 (55,338) and S3 (54,859).
Disclaimer: lnkd.in/gJJDnvn2
🔹 Key Levels for the Upcoming Week
📌 Price Action Pivot Zone:
The critical zone to monitor for potential trend reversals or continuation lies between 56,165 and 56,402.
🔻 Support Levels:
Support 1 (S1): 55,811
Support 2 (S2): 55,338
Support 3 (S3): 54,859
🔺 Resistance Levels:
Resistance 1 (R1): 56,759
Resistance 2 (R2): 57,236
Resistance 3 (R3): 57,865
📈 Market Outlook
✅ Bullish Scenario:
If Bank Nifty sustains above the pivot zone (56,402), it may trigger renewed buying interest, potentially pushing the index toward R1 (56,759) and higher levels like R2 (57,236) and R3 (57,865).
❌ Bearish Scenario:
A breakdown below the lower end of the pivot zone at 56,165 may attract selling pressure, dragging the index towards S1 (55,811) and possibly lower levels like S2 (55,338) and S3 (54,859).
Disclaimer: lnkd.in/gJJDnvn2
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.
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.