Bank Nifty Weekly Outlook: A Crucial Zone AheadThe Bank Nifty ended the week at 55,004.90, registering a decline of -1.10%.
🔹 Key Levels for the Upcoming Week
📌 Price Action Pivot Zone:
54,888 to 55,123 – This shaded blue range is the key zone to monitor. A breakout above or below this band could set the tone for the week ahead.
🔻 Support Levels
Support 1 (S1): 54,538
Support 2 (S2): 54,071
Support 3 (S3): 53,595
🔺 Resistance Levels
Resistance 1 (R1): 55,476
Resistance 2 (R2): 55,947
Resistance 3 (R3): 56,460
📈 Market Outlook
✅ Bullish Scenario:
A sustained move above 55,123 (top of the pivot zone) may trigger fresh buying. If momentum follows through, the index could move toward R1 (55,476) and possibly extend up to R2 (55,947) and R3 (56,460).
❌ Bearish Scenario:
If the index fails to hold above 54,888 (bottom of the pivot zone), selling pressure could increase. In that case, it may head towards S1 (54,538), and further downside targets could be S2 (54,071) and S3 (53,595).
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