Bank Nifty ended the week at 56,754.70, registering a marginal decline of -0.49%.
🔹 Key Levels for the Upcoming Week
📌 Price Action Pivot Zone:
The critical zone to monitor for potential trend reversals or continuation lies between 56,636 and 56,875.
🔻 Support Levels:
Support 1 (S1): 56,281
Support 2 (S2): 55,806
Support 3 (S3): 55,355
🔺 Resistance Levels:
Resistance 1 (R1): 57,512
Resistance 2 (R2): 57,991
Resistance 3 (R3): 58,137
📈 Market Outlook
✅ Bullish Scenario:
If Bank Nifty sustains above the pivot zone (56,875), it may trigger renewed buying interest, potentially pushing the index toward R1 (57,512) and above.
❌ Bearish Scenario:
A breakdown below the lower end of the pivot zone at 56,636 may attract selling pressure, dragging the index towards S1 (56,281) and further downside levels.
Disclaimer: lnkd.in/gJJDnvn2
🔹 Key Levels for the Upcoming Week
📌 Price Action Pivot Zone:
The critical zone to monitor for potential trend reversals or continuation lies between 56,636 and 56,875.
🔻 Support Levels:
Support 1 (S1): 56,281
Support 2 (S2): 55,806
Support 3 (S3): 55,355
🔺 Resistance Levels:
Resistance 1 (R1): 57,512
Resistance 2 (R2): 57,991
Resistance 3 (R3): 58,137
📈 Market Outlook
✅ Bullish Scenario:
If Bank Nifty sustains above the pivot zone (56,875), it may trigger renewed buying interest, potentially pushing the index toward R1 (57,512) and above.
❌ Bearish Scenario:
A breakdown below the lower end of the pivot zone at 56,636 may attract selling pressure, dragging the index towards S1 (56,281) and further downside levels.
Disclaimer: lnkd.in/gJJDnvn2
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