Bank Nifty ended the week at 56,754.70, registering a marginal decline of -0.49%.
🔹 Key Levels for the Upcoming Week
📌 Price Action Pivot Zone:
The critical zone to monitor for potential trend reversals or continuation lies between 56,636 and 56,875.
🔻 Support Levels:
Support 1 (S1): 56,281
Support 2 (S2): 55,806
Support 3 (S3): 55,355
🔺 Resistance Levels:
Resistance 1 (R1): 57,512
Resistance 2 (R2): 57,991
Resistance 3 (R3): 58,137
📈 Market Outlook
✅ Bullish Scenario:
If Bank Nifty sustains above the pivot zone (56,875), it may trigger renewed buying interest, potentially pushing the index toward R1 (57,512) and above.
❌ Bearish Scenario:
A breakdown below the lower end of the pivot zone at 56,636 may attract selling pressure, dragging the index towards S1 (56,281) and further downside levels.
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 56,636 and 56,875.
🔻 Support Levels:
Support 1 (S1): 56,281
Support 2 (S2): 55,806
Support 3 (S3): 55,355
🔺 Resistance Levels:
Resistance 1 (R1): 57,512
Resistance 2 (R2): 57,991
Resistance 3 (R3): 58,137
📈 Market Outlook
✅ Bullish Scenario:
If Bank Nifty sustains above the pivot zone (56,875), it may trigger renewed buying interest, potentially pushing the index toward R1 (57,512) and above.
❌ Bearish Scenario:
A breakdown below the lower end of the pivot zone at 56,636 may attract selling pressure, dragging the index towards S1 (56,281) and further downside levels.
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.