The Bank Nifty ended the week at 56,609.75, gaining +1.84%
🔹 Price Action Pivot Zone:
56,492 – 56,729
This is the crucial price band to watch. A breakout or breakdown from this blue-shaded zone could define this week’s directional bias.
🔻 Support Levels:
S1: 56,136
S2: 55,662
S3: 55,030
🔺 Resistance Levels:
R1: 57,088
R2: 57,566
R3: 58,135
📈 Market Outlook
✅ Bullish Scenario:
If Bank Nifty sustains above the pivot high of 56,729, buyers could push the index toward R1 (57,088). A breakout above this zone may open the path to R2 (57,566) and R3 (58,135).
❌ Bearish Scenario:
A breakdown below the pivot low of 56,492 could trigger profit booking. The index may then retest S1 (56,136), with further weakness extending toward S2 (55,662) and S3 (55,030).
Disclaimer: tinyurl.com/59ypbsrh
🔹 Price Action Pivot Zone:
56,492 – 56,729
This is the crucial price band to watch. A breakout or breakdown from this blue-shaded zone could define this week’s directional bias.
🔻 Support Levels:
S1: 56,136
S2: 55,662
S3: 55,030
🔺 Resistance Levels:
R1: 57,088
R2: 57,566
R3: 58,135
📈 Market Outlook
✅ Bullish Scenario:
If Bank Nifty sustains above the pivot high of 56,729, buyers could push the index toward R1 (57,088). A breakout above this zone may open the path to R2 (57,566) and R3 (58,135).
❌ Bearish Scenario:
A breakdown below the pivot low of 56,492 could trigger profit booking. The index may then retest S1 (56,136), with further weakness extending toward S2 (55,662) and S3 (55,030).
Disclaimer: tinyurl.com/59ypbsrh
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