Bank Nifty closed last at ₹53,456.
The index had gone up to ₹56,334 earlier in the week but fell sharply from there. It could not hold above the important 20-week average level, which means sellers are still in control.
The index also broke below its 20-day and 50-day averages on the daily chart — which is a sign of weakness in the short term.
Important Levels to Watch
Level Price (₹) What it means
Resistance 2 56,800 Strong selling zone. Very hard to go above this.
Resistance 1 56,300–56,400 First hurdle on the upside. Needs to break for recovery.
Key Zone 54,600–54,200 Most important level. If this holds, market can recover.
Support 1 53,000–53,100 Current support. Must hold to avoid further fall.
Support 2 52,500 Next target if 53,000 breaks. Expect sharp fall.
What Can Happen Next Week?
If market goes UP:
• Bank Nifty needs to first cross and stay above 54,600
• After that, it can move toward 55,400 and then 56,000–56,400
• Only a strong close above 56,400 will change the trend to bullish
If market goes DOWN:
• If it breaks below 53,000 and closes there, expect a fall to 52,500
• Below 52,500, the next support is around 51,800
• Avoid fresh buying in banking stocks until 54,000 is reclaimed
The index had gone up to ₹56,334 earlier in the week but fell sharply from there. It could not hold above the important 20-week average level, which means sellers are still in control.
The index also broke below its 20-day and 50-day averages on the daily chart — which is a sign of weakness in the short term.
Important Levels to Watch
Level Price (₹) What it means
Resistance 2 56,800 Strong selling zone. Very hard to go above this.
Resistance 1 56,300–56,400 First hurdle on the upside. Needs to break for recovery.
Key Zone 54,600–54,200 Most important level. If this holds, market can recover.
Support 1 53,000–53,100 Current support. Must hold to avoid further fall.
Support 2 52,500 Next target if 53,000 breaks. Expect sharp fall.
What Can Happen Next Week?
If market goes UP:
• Bank Nifty needs to first cross and stay above 54,600
• After that, it can move toward 55,400 and then 56,000–56,400
• Only a strong close above 56,400 will change the trend to bullish
If market goes DOWN:
• If it breaks below 53,000 and closes there, expect a fall to 52,500
• Below 52,500, the next support is around 51,800
• Avoid fresh buying in banking stocks until 54,000 is reclaimed
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.