[INTRADAY] #BANKNIFTY PE & CE Levels(09/01/2026)A flat to slightly gap-down opening is expected in Bank Nifty, with price continuing to trade under selling pressure after the recent decline. The index is currently hovering around the 59,650–59,700 zone, which is acting as a short-term consolidation area. This zone remains critical, as buyers are attempting to defend lower levels while overall sentiment stays cautious.
On the upside, a sustained move above 59,950–60,050 will be the first sign of recovery. If Bank Nifty manages to hold above this zone, long (CE) positions can be considered with upside targets at 59,750, 59,850, and 59,950+ initially. A stronger breakout above 60,050 may further extend the rally toward 60,250, 60,350, and 60,450+, confirming bullish continuation.
On the downside, failure to hold the 59,550 support may invite fresh selling pressure. In such a case, short (PE) positions can be considered, with downside targets at 59,450, 59,250, and 59,150, followed by 59,050- if weakness persists. Until a clear breakout or breakdown is seen, traders should remain range-bound, trade with confirmation, and strictly manage risk in this volatile zone.
