๐ Bank Nifty โ Market Overview
Opening Price: Opened strong near 57,250โ57,300.
Intraday High: Touched around 57,286 in early trading hours.
Intraday Low: Dropped towards 56,730 during mid to late session.
Current Trading Range: Between 56,730 and 57,280, with a mild negative bias.
Previous Close: Around 56,953.
Current Loss: Trading -0.3% to -0.5% lower compared to previous close.
๐ Key Drivers Today
Private Banks Hold Strength: Stocks like HDFC Bank and ICICI Bank showed resilience, limiting the downside.
PSU Banks Under Pressure: Public sector banks including SBI, PNB, and Canara Bank underperformed, causing the index to drift lower.
Profit Booking Seen: After an early positive move, intraday profit booking pulled the index back.
Low Volatility: Reduced intraday swings, though a narrow downtrend was visible after the first hour.
๐ Technical Picture
Support Zone: Strong support is visible around 56,730โ56,700. A breach could see a quick move toward 56,500โ56,000.
Resistance Zone: Resistance remains at 57,250โ57,300. If this level is crossed, the next upside target is around 57,500โ57,700.
Trend Bias: Neutral to bearish for the day due to selling pressure after opening strength.
โ Summary Conclusion
Bank Nifty is showing slight weakness today, mainly dragged by public sector banks. The index gave up early gains, but private banks kept the fall in check. Current range is 56,730โ57,280. Watch for either a bounce above 57,300 or a break below 56,700 for the next clear trend direction.
Opening Price: Opened strong near 57,250โ57,300.
Intraday High: Touched around 57,286 in early trading hours.
Intraday Low: Dropped towards 56,730 during mid to late session.
Current Trading Range: Between 56,730 and 57,280, with a mild negative bias.
Previous Close: Around 56,953.
Current Loss: Trading -0.3% to -0.5% lower compared to previous close.
๐ Key Drivers Today
Private Banks Hold Strength: Stocks like HDFC Bank and ICICI Bank showed resilience, limiting the downside.
PSU Banks Under Pressure: Public sector banks including SBI, PNB, and Canara Bank underperformed, causing the index to drift lower.
Profit Booking Seen: After an early positive move, intraday profit booking pulled the index back.
Low Volatility: Reduced intraday swings, though a narrow downtrend was visible after the first hour.
๐ Technical Picture
Support Zone: Strong support is visible around 56,730โ56,700. A breach could see a quick move toward 56,500โ56,000.
Resistance Zone: Resistance remains at 57,250โ57,300. If this level is crossed, the next upside target is around 57,500โ57,700.
Trend Bias: Neutral to bearish for the day due to selling pressure after opening strength.
โ Summary Conclusion
Bank Nifty is showing slight weakness today, mainly dragged by public sector banks. The index gave up early gains, but private banks kept the fall in check. Current range is 56,730โ57,280. Watch for either a bounce above 57,300 or a break below 56,700 for the next clear trend direction.
Hello Guys ..
WhatsApp link- wa.link/d997q0
Email - techncialexpress@gmail.com ...
Script Coder/Trader//Investor from India. Drop a comment or DM if you have any questions! Letโs grow together!
WhatsApp link- wa.link/d997q0
Email - techncialexpress@gmail.com ...
Script Coder/Trader//Investor from India. Drop a comment or DM if you have any questions! Letโs grow together!
Related publications
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.
Hello Guys ..
WhatsApp link- wa.link/d997q0
Email - techncialexpress@gmail.com ...
Script Coder/Trader//Investor from India. Drop a comment or DM if you have any questions! Letโs grow together!
WhatsApp link- wa.link/d997q0
Email - techncialexpress@gmail.com ...
Script Coder/Trader//Investor from India. Drop a comment or DM if you have any questions! Letโs grow together!
Related publications
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.