📊 Current Technical Snapshot
Spot Level: Approximately 55,900
Trend: Neutral to slightly bullish
Support Levels: 55,531; 55,778; 56,009
Resistance Levels: 56,486; 56,733; 56,964
🔍 Key Observations
Consolidation Zone: The Bank Nifty is trading within a defined range, with immediate support near 55,850–55,750 and resistance around 56,650–56,750. A breakout above 56,800 could target 57,000.
Bullish Bias: Sustaining above the 56,000 level may lead to a rally towards the 56,500–56,800 zone, followed by 57,000.
Rising Wedge Pattern: The index is forming a rising wedge, indicating potential consolidation with a chance of reversal. Immediate resistance lies around the 56,400 level, with a strong supply zone leading to potential reversal or selling pressure. A decisive breakout above 56,600 would turn bullish.
📈 Weekly Outlook (October 8–10, 2025)
Bullish Scenario: A breakout above 56,800 could target 57,000, with further upside potential.
Bearish Scenario: Failure to hold above 55,750 may lead to a decline towards 55,500 or lower.
Spot Level: Approximately 55,900
Trend: Neutral to slightly bullish
Support Levels: 55,531; 55,778; 56,009
Resistance Levels: 56,486; 56,733; 56,964
🔍 Key Observations
Consolidation Zone: The Bank Nifty is trading within a defined range, with immediate support near 55,850–55,750 and resistance around 56,650–56,750. A breakout above 56,800 could target 57,000.
Bullish Bias: Sustaining above the 56,000 level may lead to a rally towards the 56,500–56,800 zone, followed by 57,000.
Rising Wedge Pattern: The index is forming a rising wedge, indicating potential consolidation with a chance of reversal. Immediate resistance lies around the 56,400 level, with a strong supply zone leading to potential reversal or selling pressure. A decisive breakout above 56,600 would turn bullish.
📈 Weekly Outlook (October 8–10, 2025)
Bullish Scenario: A breakout above 56,800 could target 57,000, with further upside potential.
Bearish Scenario: Failure to hold above 55,750 may lead to a decline towards 55,500 or lower.
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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.
Related publications
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.