The Nifty Bank Index last week ended at 60,186.65, posting a weekly change of +0.11%.
The index is now positioned right at a crucial decision area for the coming week.
Key Levels for the Upcoming Week
Price Action Pivot Zone: (60,128 to 60,343)
Sustaining above 60,343 may invite fresh recovery buying.
while rejection from this zone can trigger short-term weakness.
Support Levels
S1: 59,698
S2: 59,268
S3: 58,838
Resistance Levels
R1: 60,773
R2: 61,203
R3: 61,633
Market Outlook
Bullish Scenario:
If Bank Nifty reclaims and sustains above the Pivot Zone (60,128–60,343),
the index may move toward R1 (60,773).
A strong breakout above this level could extend the rally toward
R2 (61,203) and R3 (61,633).
Bearish Scenario:
If the index fails to hold above 60,128, selling pressure may drag it toward
S1 (59,698), followed by S2 (59,268) and S3 (58,838).
A weekly close below 58,838 may indicate the beginning of a deeper corrective phase.
Disclaimer: aliceblueonline.com/legal-documentation/disclaimer/
The index is now positioned right at a crucial decision area for the coming week.
Key Levels for the Upcoming Week
Price Action Pivot Zone: (60,128 to 60,343)
Sustaining above 60,343 may invite fresh recovery buying.
while rejection from this zone can trigger short-term weakness.
Support Levels
S1: 59,698
S2: 59,268
S3: 58,838
Resistance Levels
R1: 60,773
R2: 61,203
R3: 61,633
Market Outlook
Bullish Scenario:
If Bank Nifty reclaims and sustains above the Pivot Zone (60,128–60,343),
the index may move toward R1 (60,773).
A strong breakout above this level could extend the rally toward
R2 (61,203) and R3 (61,633).
Bearish Scenario:
If the index fails to hold above 60,128, selling pressure may drag it toward
S1 (59,698), followed by S2 (59,268) and S3 (58,838).
A weekly close below 58,838 may indicate the beginning of a deeper corrective phase.
Disclaimer: aliceblueonline.com/legal-documentation/disclaimer/
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.