Bank Nifty Weekly Outlook (5th Jan – 9th Jan 2026)

The Nifty Bank Index ended the previous week at 60,150.95, registering a strong gain of +1.93%. The index has moved back into a crucial price action pivot zone, making the upcoming week extremely important for directional clarity.

🔹 Key Levels for the Upcoming Week
📌 Price Action Pivot Zone (59,985–60,266)
This blue-shaded zone represents the primary weekly decision area.
Sustaining above 60,266 can keep bullish momentum intact.
Failure to hold below 59,985 may invite short-term selling pressure.

🔻 Support Levels
S1: 59,599
S2: 59,187
S3: 58,801
These levels may act as buy-on-dips zones as long as the broader trend remains positive.

🔺 Resistance Levels
R1: 60,765
R2: 61,125
R3: 61,510
These zones are likely to witness profit booking or supply pressure on upward moves.

📈 Market Outlook
✅ Bullish Scenario:
If Bank Nifty sustains above the Price Action Pivot Zone (59,985–60,266), the index may move toward R1 at 60,765.
A strong breakout above this level could extend the rally toward R2 at 61,125, and continued strength may push the index toward R3 at 61,510 in the coming weeks.

❌ Bearish Scenario:
If the index fails to hold the pivot zone and slips below 59,985, short-term weakness could drag prices toward S1 at 59,599.
Further selling pressure may test S2 at 59,187 and S3 at 58,801. A weekly close below 58,801 would indicate a deeper corrective phase.

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