Bank Nifty is expected to open flat to slightly positive near the 56,600 level, indicating a balanced start after a strong upward movement in the previous session. The index has shown resilience by maintaining higher lows on the chart, suggesting underlying bullish sentiment, but it now faces a key resistance zone ahead.
If Bank Nifty sustains above 56,550, a fresh upside move may unfold toward 56,750, 56,850, and 56,950+. A breakout beyond 56,950 could further strengthen the bullish structure, opening the path toward 57,200+.
On the downside, immediate support lies around 56,450–56,400. A fall below this zone may trigger mild profit-booking, dragging the index toward 56,250, 56,150, and 56,050-.
Overall, the trend remains positive with a short-term consolidation bias. Traders should focus on trading breakouts beyond 56,550 or breakdowns below 56,400, maintaining strict risk management.
If Bank Nifty sustains above 56,550, a fresh upside move may unfold toward 56,750, 56,850, and 56,950+. A breakout beyond 56,950 could further strengthen the bullish structure, opening the path toward 57,200+.
On the downside, immediate support lies around 56,450–56,400. A fall below this zone may trigger mild profit-booking, dragging the index toward 56,250, 56,150, and 56,050-.
Overall, the trend remains positive with a short-term consolidation bias. Traders should focus on trading breakouts beyond 56,550 or breakdowns below 56,400, maintaining strict risk management.
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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.