The Bank Nifty ended the week at 57,713.35, gaining +1.95%, showcasing strong momentum and follow-through buying from lower levels.
🔹 Key Levels for the Upcoming Week
📌 Price Action Pivot Zone:
57,593 to 56,834 – This blue-shaded range remains the crucial zone to watch. Sustaining above this area may lead to further bullish expansion, while a drop below could invite profit booking.
🔻 Support Levels:
S1: 57,235
S2: 56,756
S3: 56,300
🔺 Resistance Levels:
R1: 58,195
R2: 58,678
R3: 59,052
📈 Market Outlook
✅ Bullish Scenario:
If Bank Nifty holds above the pivot high of 57,593, the bullish tone may continue toward R1 (58,195). A breakout above this level can extend gains toward R2 (58,678) and R3 (59,052).
❌ Bearish Scenario:
If the index slips below the pivot low of 56,834, short-term weakness may emerge, pulling prices down toward S1 (57,235), and further toward S2 (56,756) and S3 (56,300).
Disclaimer: tinyurl.com/59ypbsrh
🔹 Key Levels for the Upcoming Week
📌 Price Action Pivot Zone:
57,593 to 56,834 – This blue-shaded range remains the crucial zone to watch. Sustaining above this area may lead to further bullish expansion, while a drop below could invite profit booking.
🔻 Support Levels:
S1: 57,235
S2: 56,756
S3: 56,300
🔺 Resistance Levels:
R1: 58,195
R2: 58,678
R3: 59,052
📈 Market Outlook
✅ Bullish Scenario:
If Bank Nifty holds above the pivot high of 57,593, the bullish tone may continue toward R1 (58,195). A breakout above this level can extend gains toward R2 (58,678) and R3 (59,052).
❌ Bearish Scenario:
If the index slips below the pivot low of 56,834, short-term weakness may emerge, pulling prices down toward S1 (57,235), and further toward S2 (56,756) and S3 (56,300).
Disclaimer: tinyurl.com/59ypbsrh
Pernyataan Penyangkalan
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.
Pernyataan Penyangkalan
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.