📊 Banknifty Analysis for 05th March 2026
(Simple Chart Reading)
CMP: 58,755
Current Structure: Uptrend weakening on the daily chart with recent breakdown from higher supply zones
Market Mood: Bearish bias with short-term bounce attempts near support
Bank Nifty has moved below recent support zones after a sharp fall from higher supply areas near 60,800–61,300. The daily structure still reflects a broader uptrend, but the recent decline suggests weakening momentum and increased volatility. Immediate resistance is placed near 59,077, followed by 59,400 and 59,742. Stronger supply zones remain higher near 59,786–59,666 and again near 60,935–60,839. On the downside, immediate support is seen near 58,413, followed by 58,070 and 57,748. The intraday chart shows a bounce attempt from the 58,393 swing low support area.
For intraday reference, support levels are 58,413, 58,070 and 57,748. Resistance levels are 59,077, 59,400 and 59,742. The immediate supply zone lies between 59,786 and 59,666, while stronger resistance is positioned near 60,935–60,839.
If the market opens with a gap up within about a 100-point range, price may initially attempt to move towards 59,077. If buying strength improves, it may extend towards 59,400. However, selling pressure may appear near 59,400–59,742, and stronger rejection may occur near the supply zone around 59,786–59,666. If price falls after a gap-up open, it may drift back towards 58,755, then towards 58,413, and if weakness increases, towards 58,070.
If the market opens with a gap down within roughly a 100-point range, price may first test the support area near 58,413. If selling pressure continues, it may extend towards 58,070 and possibly 57,748. A bounce may emerge from these support zones. If price rises after a gap-down open, it may first move back towards 58,755, then towards 59,077 where resistance behaviour may appear.
In case of a sideways or range-bound session, price may oscillate between 58,413 and 59,077 as the immediate band. An extended range may stretch between 58,070 and 59,400. Inside this band, price may continue moving between support and resistance, and breakouts may require strong participation to sustain.
Observationally, if price sustains above 59,742, higher reference zones may appear near 60,300 and 60,800 where reaction behaviour can be monitored. On the downside, if price slips below 57,748, further reference areas may appear near 57,300 and 56,800 where support behaviour may develop.
Overall, the daily structure shows weakening strength below 59,742–59,786. Immediate support lies near 58,413–58,070, while stronger supply remains positioned above 59,700 and again near 60,800. A clearer directional move may develop once price moves decisively beyond this broader range.
STWP View: The market appears weak below 59,400–59,742. Upside possibilities may improve only if price sustains above 59,786. Downside pressure may increase below 58,413–58,070. The early part of the session may provide clues whether the bounce continues or selling resumes.
⚠️ Disclaimer
This post is intended solely for educational and informational purposes. It does not constitute investment advice, a recommendation, or a solicitation to buy or sell any security. Market investments are subject to risk. Please consult a SEBI-registered financial advisor before making any investment decisions. STWP is not responsible for actions taken based on this analysis.
(Simple Chart Reading)
CMP: 58,755
Current Structure: Uptrend weakening on the daily chart with recent breakdown from higher supply zones
Market Mood: Bearish bias with short-term bounce attempts near support
Bank Nifty has moved below recent support zones after a sharp fall from higher supply areas near 60,800–61,300. The daily structure still reflects a broader uptrend, but the recent decline suggests weakening momentum and increased volatility. Immediate resistance is placed near 59,077, followed by 59,400 and 59,742. Stronger supply zones remain higher near 59,786–59,666 and again near 60,935–60,839. On the downside, immediate support is seen near 58,413, followed by 58,070 and 57,748. The intraday chart shows a bounce attempt from the 58,393 swing low support area.
For intraday reference, support levels are 58,413, 58,070 and 57,748. Resistance levels are 59,077, 59,400 and 59,742. The immediate supply zone lies between 59,786 and 59,666, while stronger resistance is positioned near 60,935–60,839.
If the market opens with a gap up within about a 100-point range, price may initially attempt to move towards 59,077. If buying strength improves, it may extend towards 59,400. However, selling pressure may appear near 59,400–59,742, and stronger rejection may occur near the supply zone around 59,786–59,666. If price falls after a gap-up open, it may drift back towards 58,755, then towards 58,413, and if weakness increases, towards 58,070.
If the market opens with a gap down within roughly a 100-point range, price may first test the support area near 58,413. If selling pressure continues, it may extend towards 58,070 and possibly 57,748. A bounce may emerge from these support zones. If price rises after a gap-down open, it may first move back towards 58,755, then towards 59,077 where resistance behaviour may appear.
In case of a sideways or range-bound session, price may oscillate between 58,413 and 59,077 as the immediate band. An extended range may stretch between 58,070 and 59,400. Inside this band, price may continue moving between support and resistance, and breakouts may require strong participation to sustain.
Observationally, if price sustains above 59,742, higher reference zones may appear near 60,300 and 60,800 where reaction behaviour can be monitored. On the downside, if price slips below 57,748, further reference areas may appear near 57,300 and 56,800 where support behaviour may develop.
Overall, the daily structure shows weakening strength below 59,742–59,786. Immediate support lies near 58,413–58,070, while stronger supply remains positioned above 59,700 and again near 60,800. A clearer directional move may develop once price moves decisively beyond this broader range.
STWP View: The market appears weak below 59,400–59,742. Upside possibilities may improve only if price sustains above 59,786. Downside pressure may increase below 58,413–58,070. The early part of the session may provide clues whether the bounce continues or selling resumes.
⚠️ Disclaimer
This post is intended solely for educational and informational purposes. It does not constitute investment advice, a recommendation, or a solicitation to buy or sell any security. Market investments are subject to risk. Please consult a SEBI-registered financial advisor before making any investment decisions. STWP is not responsible for actions taken based on this analysis.
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Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
STWP | Mentor & Demand-Supply Specialist |
Empowering traders through structured learning |
simpletradewithpatience.com
Community: chat.whatsapp.com/BEYz0tkqP0fJPBCWf59uel
wa.me/message/6IOPHGOXMGZ4N1
Educational Only
Empowering traders through structured learning |
simpletradewithpatience.com
Community: chat.whatsapp.com/BEYz0tkqP0fJPBCWf59uel
wa.me/message/6IOPHGOXMGZ4N1
Educational Only
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.