Bank Nifty is expected to open with a gap-down bias. Despite the weak opening, the index continues to trade above the crucial 58050 support zone, keeping the overall intraday structure positive. Traders should avoid chasing the opening move and wait for confirmation before entering fresh positions.
The immediate support is placed at 58050–58100. If Bank Nifty sustains above this zone and attracts buying interest, traders can consider CE positions with targets of 58250, 58350, and 58450. A decisive breakout above 58550 will confirm fresh bullish momentum and may extend the rally towards 58750, 58850, and 58950+.
On the downside, if Bank Nifty slips below 57950–57900, traders can consider PE positions with targets of 57750, 57650, and 57550. A sustained breakdown below 57450 will strengthen the bearish trend and may push the index towards 57250, 57150, and 57050.
Overall, a gap-down opening is expected. As long as Bank Nifty holds above the 58050 support zone, buying on dips remains the preferred strategy. Fresh short positions should only be considered after a confirmed breakdown below 57950, with strict stop-losses and disciplined profit booking at each target level.
The immediate support is placed at 58050–58100. If Bank Nifty sustains above this zone and attracts buying interest, traders can consider CE positions with targets of 58250, 58350, and 58450. A decisive breakout above 58550 will confirm fresh bullish momentum and may extend the rally towards 58750, 58850, and 58950+.
On the downside, if Bank Nifty slips below 57950–57900, traders can consider PE positions with targets of 57750, 57650, and 57550. A sustained breakdown below 57450 will strengthen the bearish trend and may push the index towards 57250, 57150, and 57050.
Overall, a gap-down opening is expected. As long as Bank Nifty holds above the 58050 support zone, buying on dips remains the preferred strategy. Fresh short positions should only be considered after a confirmed breakdown below 57950, with strict stop-losses and disciplined profit booking at each target level.
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📲 Mobile App: tradzoo.com/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.