Weekly Recap:
The Bank Nifty closed the week at 48497.5, posting a pull back of 0.32%.
Key Weekly Levels for Next Week
Price Action Pivot Zone:
The crucial range to watch for potential reversals or trend continuation is 48,387 - 48,608
Support & Resistance Levels:
Support Levels:
Resistance Levels:
Market Outlook:
Bullish Scenario: If Bank Nifty sustains above 48,608, it could see buying interest, potentially pushing towards R1 at 48,939 and higher levels.
Bearish Scenario: A breakdown below 48,387 could trigger further downside pressure, targeting S1 at 48,059 and lower support levels.
The Bank Nifty closed the week at 48497.5, posting a pull back of 0.32%.
Key Weekly Levels for Next Week
Price Action Pivot Zone:
The crucial range to watch for potential reversals or trend continuation is 48,387 - 48,608
Support & Resistance Levels:
Support Levels:
- S1: 48,059
- S2: 47,620
- S3: 46,956
Resistance Levels:
- R1: 48,939
- R2: 49,382
- R3: 49,836
Market Outlook:
Bullish Scenario: If Bank Nifty sustains above 48,608, it could see buying interest, potentially pushing towards R1 at 48,939 and higher levels.
Bearish Scenario: A breakdown below 48,387 could trigger further downside pressure, targeting S1 at 48,059 and lower support levels.
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.