Bank Nifty Weekly Analysis: Key Levels & Trend Outlook
Weekly Recap:
The Bank Nifty closed the week at 48981, posting a decline of -0.24%.
Key Weekly Levels for Next Week
Price Action Pivot Zone:
The crucial range to watch for potential reversals or trend continuation is 48,948 - 49,092
Support & Resistance Levels:
Support Levels:
S1: 48, 738
S2: 48,540
S3: 48,100
Resistance Levels:
R1: 49,248
R2: 49,426
R3: 48,881
Market Outlook:
Bullish Scenario: If Bank Nifty sustains above 49,092, it could see buying interest, potentially pushing towards R1 at 49,248 and higher levels.
Bearish Scenario: A breakdown below 48,948 could trigger further downside pressure, targeting S1 at 48,738 and lower support levels.
The Bank Nifty closed the week at 48981, posting a decline of -0.24%.
Key Weekly Levels for Next Week
Price Action Pivot Zone:
The crucial range to watch for potential reversals or trend continuation is 48,948 - 49,092
Support & Resistance Levels:
Support Levels:
S1: 48, 738
S2: 48,540
S3: 48,100
Resistance Levels:
R1: 49,248
R2: 49,426
R3: 48,881
Market Outlook:
Bullish Scenario: If Bank Nifty sustains above 49,092, it could see buying interest, potentially pushing towards R1 at 49,248 and higher levels.
Bearish Scenario: A breakdown below 48,948 could trigger further downside pressure, targeting S1 at 48,738 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.