Bank Nifty is expected to open with a flat opening, and the market is currently in a consolidation phase after a sharp move, so expect range-bound and volatile price action. If Bank Nifty sustains above 53550–53600, bullish momentum can build where CE positions can be considered for targets 53750, 53850, and 53950+. A stronger breakout above 54050 can further extend the upside towards 54250, 54350, and 54450+.
On the downside, if the index faces rejection from higher levels, traders can look for PE opportunities around 53950–53900 for targets 53750, 53650, and 53550. Strong selling confirmation will come below 53450, which can push the index towards 53250, 53150, and 53050.
Overall view: Flat opening indicates consolidation and possible whipsaw moves, so avoid early trades inside the range. Wait for proper breakout or breakdown confirmation, and follow strict stop loss with trailing and partial profit booking.
On the downside, if the index faces rejection from higher levels, traders can look for PE opportunities around 53950–53900 for targets 53750, 53650, and 53550. Strong selling confirmation will come below 53450, which can push the index towards 53250, 53150, and 53050.
Overall view: Flat opening indicates consolidation and possible whipsaw moves, so avoid early trades inside the range. Wait for proper breakout or breakdown confirmation, and follow strict stop loss with trailing and partial profit booking.
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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.