Bank Nifty is expected to witness a flat opening as the index is currently consolidating near the crucial 53500–53550 support zone after recent selling pressure. Price action around this range will decide the next directional move for today’s session.
If Bank Nifty sustains above 53550–53600, a recovery move towards 53750, 53850, and 53950+ can be seen. Further strength above 54050 may trigger fresh bullish momentum towards 54250, 54350, and 54450+ levels.
On the downside, if the index slips below 53450, selling pressure may increase towards 53250, 53150, and 53050 levels. The overall structure remains volatile, so traders should wait for confirmation before entering aggressive positions.
Immediate resistance is placed near 53900–54050, while 53450 and 53050 remain important support zones for today’s session. Since the market is opening flat after a volatile move, range-bound price action can be expected during the initial session. Maintain strict stop loss and trail profits near target zones.
If Bank Nifty sustains above 53550–53600, a recovery move towards 53750, 53850, and 53950+ can be seen. Further strength above 54050 may trigger fresh bullish momentum towards 54250, 54350, and 54450+ levels.
On the downside, if the index slips below 53450, selling pressure may increase towards 53250, 53150, and 53050 levels. The overall structure remains volatile, so traders should wait for confirmation before entering aggressive positions.
Immediate resistance is placed near 53900–54050, while 53450 and 53050 remain important support zones for today’s session. Since the market is opening flat after a volatile move, range-bound price action can be expected during the initial session. Maintain strict stop loss and trail profits near target zones.
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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.