Bank Nifty ended the week at 55,617.60, registering a decline of -1.61%.
🔹 Key Levels for the Upcoming Week
📌 Price Action Pivot Zone:
55,501 to 55,736— This critical range should be monitored for potential trend continuation or reversal. A breakout on either side could determine directional bias.
🔻 Support Levels:
Support 1 (S1): 55,148
Support 2 (S2): 54,679
Support 3 (S3): 54,187
🔺 Resistance Levels:
Resistance 1 (R1): 56,092
Resistance 2 (R2): 56,565
Resistance 3 (R3): 57,057
📈 Market Outlook
✅ Bullish Scenario:
If Bank Nifty sustains above 55,736 (top of the pivot zone), it could trigger buying interest, paving the way toward R1 (56,092), and possibly extending the rally to R2 (56,565) and R3 (57,057).
❌ Bearish Scenario:
A breakdown below 55,501 (bottom of the pivot zone) may invite selling pressure, potentially dragging the index to S1 (55,148) and further down to S2 (54,679) and S3 (54,187).
Disclaimer: lnkd.in/gJJDnvn2
🔹 Key Levels for the Upcoming Week
📌 Price Action Pivot Zone:
55,501 to 55,736— This critical range should be monitored for potential trend continuation or reversal. A breakout on either side could determine directional bias.
🔻 Support Levels:
Support 1 (S1): 55,148
Support 2 (S2): 54,679
Support 3 (S3): 54,187
🔺 Resistance Levels:
Resistance 1 (R1): 56,092
Resistance 2 (R2): 56,565
Resistance 3 (R3): 57,057
📈 Market Outlook
✅ Bullish Scenario:
If Bank Nifty sustains above 55,736 (top of the pivot zone), it could trigger buying interest, paving the way toward R1 (56,092), and possibly extending the rally to R2 (56,565) and R3 (57,057).
❌ Bearish Scenario:
A breakdown below 55,501 (bottom of the pivot zone) may invite selling pressure, potentially dragging the index to S1 (55,148) and further down to S2 (54,679) and S3 (54,187).
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.