Weekly Recap:
Bank Nifty opened last week with a gap-down at 49,336.10, plunging 2,166.6 points or -4.21%. However, it recovered over the course of the week and eventually settled at 51,002.35, registering a modest weekly decline of -0.97%.
Key Weekly Levels for Next Week
Price Action Pivot Zone:
The crucial range to watch for potential reversals or trend continuation is 50,860 to 51,115
Support & Resistance Levels:
Support Levels:
Resistance Levels:
Market Outlook:
Bullish Scenario: If Bank Nifty sustains above 51,115, it could see buying interest, potentially pushing towards R1 at 51,560 and higher levels.
Bearish Scenario: A breakdown below 50,860 could trigger further downside pressure, targeting S1 at 50,487 and lower support levels.
Disclaimer: lnkd.in/gJJDnvn2
Bank Nifty opened last week with a gap-down at 49,336.10, plunging 2,166.6 points or -4.21%. However, it recovered over the course of the week and eventually settled at 51,002.35, registering a modest weekly decline of -0.97%.
Key Weekly Levels for Next Week
Price Action Pivot Zone:
The crucial range to watch for potential reversals or trend continuation is 50,860 to 51,115
Support & Resistance Levels:
Support Levels:
- S1: 50,487
- S2: 50,103
- S3: 59,650
Resistance Levels:
- R1: 51,560
- R2: 52,011
- R3: 52,577
Market Outlook:
Bullish Scenario: If Bank Nifty sustains above 51,115, it could see buying interest, potentially pushing towards R1 at 51,560 and higher levels.
Bearish Scenario: A breakdown below 50,860 could trigger further downside pressure, targeting S1 at 50,487 and lower support levels.
Disclaimer: lnkd.in/gJJDnvn2
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.