Bank Nifty is expected to open flat today after a prolonged consolidation and a narrow trading range observed in the previous sessions. The index is hovering near the support zone of 56900–57000, which has acted as a critical level in recent price action.
If Bank Nifty sustains above 57050–57100, we may witness a rebound towards 57250, 57350, and 57450+. However, a decisive breach below the 56900 level can trigger a sharp fall, with immediate downside targets at 56750, 56650, and 56550-.
Since the index is trading close to a major support zone, today's movement could decide the next directional trend. Until a breakout or breakdown is confirmed, expect range-bound moves with limited momentum.
If Bank Nifty sustains above 57050–57100, we may witness a rebound towards 57250, 57350, and 57450+. However, a decisive breach below the 56900 level can trigger a sharp fall, with immediate downside targets at 56750, 56650, and 56550-.
Since the index is trading close to a major support zone, today's movement could decide the next directional trend. Until a breakout or breakdown is confirmed, expect range-bound moves with limited momentum.
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📲 Android App: bit.ly/TradZooApp
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📲 Android App: bit.ly/TradZooApp
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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.