#BANKNIFTY PE & CE Levels(20/02/2026)

Bank Nifty is expected to open with a gap down around the 60650–60700 zone, indicating fresh selling pressure at the start of the session. The index has broken below the immediate support area of 60950–61000 and is now trading near the next crucial support zone around 60550.

If Bank Nifty sustains below 60900–60950 and shows weakness in the first 15-minute candle, PE options can be considered for targets of 60750, 60650, and 60550. A decisive breakdown below 60550 may extend the fall toward 60450 and even 60050 in case of strong momentum selling.

On the upside, if the index stabilizes near 60550 and shows a strong reversal with bullish candles, a short covering bounce can be expected. Sustaining above 60600–60650 may trigger a pullback toward 60750, 60850, and 60950. However, unless price reclaims 61050 convincingly, upside moves may remain limited.

Since it is a gap down opening near support, avoid panic selling at the open. Wait for confirmation either of breakdown below 60550 for continuation or a strong reversal structure for bounce trade. Maintain strict stop loss and trail profits properly.