Bank Nifty is expected to open with a flat bias around the 57850–57900 zone as the index continues to consolidate near a crucial resistance area after a strong recovery from lower levels. Despite some profit booking near higher levels, the broader trend remains positive with buyers maintaining control above key support zones.
For today's session, 58050 remains the immediate breakout level to watch. A sustained move above 58050 can trigger fresh buying momentum towards 58250, 58350, and 58450+ levels. The index is currently trading just below a major resistance zone, and a breakout above this level may lead to a fresh bullish expansion.
On the downside, 57950–57900 remains the key intraday resistance-based selling zone. Any weakness from this area may attract profit booking towards 57750, 57650, and 57550 levels. However, as long as Bank Nifty holds above the 57550 support zone, the overall market structure remains bullish and dips are likely to find buying interest.
For today's session, 58050 remains the immediate breakout level to watch. A sustained move above 58050 can trigger fresh buying momentum towards 58250, 58350, and 58450+ levels. The index is currently trading just below a major resistance zone, and a breakout above this level may lead to a fresh bullish expansion.
On the downside, 57950–57900 remains the key intraday resistance-based selling zone. Any weakness from this area may attract profit booking towards 57750, 57650, and 57550 levels. However, as long as Bank Nifty holds above the 57550 support zone, the overall market structure remains bullish and dips are likely to find buying interest.
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