Bank Nifty is expected to open with a gap-down bias after the sharp bearish breakdown seen in the previous session. The index is currently attempting a pullback from the 56550 support zone, but the overall trend remains weak unless key resistance levels are reclaimed.
The immediate support is placed at 56550. If Bank Nifty sustains above this level and confirms buying momentum, traders can consider CE positions above 56550 with upside targets of 56750, 56850, and 56950+. However, the recovery will gain further strength only after a decisive move above 56950.
On the downside, the immediate selling zone is 56450–56400. If the index breaks below this range, traders can consider PE positions with targets of 56250, 56150, and 56050. A sustained breakdown below 55950 will confirm fresh bearish momentum and may extend the decline towards 55750, 55650, and 55550.
Overall, a gap-down opening is expected. Traders should avoid aggressive buying unless Bank Nifty sustains above 56550 after the opening volatility. If the index fails to hold support, selling pressure is likely to continue. Follow strict stop-losses and book profits gradually at each target level.
The immediate support is placed at 56550. If Bank Nifty sustains above this level and confirms buying momentum, traders can consider CE positions above 56550 with upside targets of 56750, 56850, and 56950+. However, the recovery will gain further strength only after a decisive move above 56950.
On the downside, the immediate selling zone is 56450–56400. If the index breaks below this range, traders can consider PE positions with targets of 56250, 56150, and 56050. A sustained breakdown below 55950 will confirm fresh bearish momentum and may extend the decline towards 55750, 55650, and 55550.
Overall, a gap-down opening is expected. Traders should avoid aggressive buying unless Bank Nifty sustains above 56550 after the opening volatility. If the index fails to hold support, selling pressure is likely to continue. Follow strict stop-losses and book profits gradually at each target level.
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📲 Mobile App: tradzoo.com/download
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📣 Telegram: t.me/tradzooIndex
📣 Forex Telegram: t.me/tradzoofx
📲 Mobile App: tradzoo.com/download
📲 Forex App:tradzoo.com/forex/download
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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.