📌 Weekly Recap:
Bank Nifty closed the week at 50,593.55, recording a strong gain of 5.27%.
Key Levels for the Upcoming Week
🔹 Price Action Pivot Zone:
The crucial range to watch for potential trend reversals or continuation is 50,482 - 50,707.
🔹 Support & Resistance Levels:
Support:
Resistance:
Market Outlook
✅ Bullish Scenario: A sustained move above 50,707 could drive buying momentum, pushing Bank Nifty towards R1 (51,046) and higher.
❌ Bearish Scenario: If the index falls below 50,482, selling pressure may intensify, dragging it towards S1 (50,146) and lower support levels.
Disclaimer: This analysis is for educational purposes only. Investors should conduct their own research before making any trading decisions.
Bank Nifty closed the week at 50,593.55, recording a strong gain of 5.27%.
Key Levels for the Upcoming Week
🔹 Price Action Pivot Zone:
The crucial range to watch for potential trend reversals or continuation is 50,482 - 50,707.
🔹 Support & Resistance Levels:
Support:
- S1: 50,146
- S2: 49,698
- S3: 46,956
Resistance:
- R1: 51,046
- R2: 51,470
- R3: 51,893
Market Outlook
✅ Bullish Scenario: A sustained move above 50,707 could drive buying momentum, pushing Bank Nifty towards R1 (51,046) and higher.
❌ Bearish Scenario: If the index falls below 50,482, selling pressure may intensify, dragging it towards S1 (50,146) and lower support levels.
Disclaimer: This analysis is for educational purposes only. Investors should conduct their own research before making any trading decisions.
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