📊 1-Day Timeframe Technical Analysis
Current Price: ₹56,204.60
Day's Range: ₹55,843.90 – ₹56,286.25
52-Week Range: ₹47,702.90 – ₹57,628.40
Year-to-Date Return: +10.39%
1-Month Return: +3.56%
🔧 Technical Indicators
Trend: Neutral
Resistance Levels: ₹56,230 (immediate), ₹56,600 (stronger)
Support Levels: ₹55,843
Technical Rating: Neutral
📈 Market Outlook
The Bank Nifty Futures are currently trading within a rising wedge pattern, indicating consolidation with potential for reversal. Immediate resistance is observed around ₹56,230, which may act as a strong supply zone leading to potential selling pressure. A decisive breakout above ₹56,600 would turn the outlook bullish.
Current Price: ₹56,204.60
Day's Range: ₹55,843.90 – ₹56,286.25
52-Week Range: ₹47,702.90 – ₹57,628.40
Year-to-Date Return: +10.39%
1-Month Return: +3.56%
🔧 Technical Indicators
Trend: Neutral
Resistance Levels: ₹56,230 (immediate), ₹56,600 (stronger)
Support Levels: ₹55,843
Technical Rating: Neutral
📈 Market Outlook
The Bank Nifty Futures are currently trading within a rising wedge pattern, indicating consolidation with potential for reversal. Immediate resistance is observed around ₹56,230, which may act as a strong supply zone leading to potential selling pressure. A decisive breakout above ₹56,600 would turn the outlook bullish.
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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.
Related publications
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.