The Bank Nifty index, as of May 6, 2025, shows a bearish bias in its intraday performance, with key technical levels and indicators suggesting cautious trading. Here's a detailed technical analysis based on available data:
#Current Price and Trend
Closing Price (May 2, 2025): 55,115.35, up 28.20 points (+0.05%)
Current Price (May 6, 2025): Around 54,550, down 0.7% from the opening at 54,918
Trend: Neutral with a bearish bias. The index has declined from its opening, forming weak candles on the daily chart, indicating hesitation and potential profit booking near resistance zones.
#Key Support and Resistance Levels
Support:
Immediate support at 53,500 (spot). This zone is critical, as a breach could lead to further downside toward 52,600 or 52,450.
Resistance - 54,400 to 54,500 it can retest and then for the further downside.
#Current Price and Trend
Closing Price (May 2, 2025): 55,115.35, up 28.20 points (+0.05%)
Current Price (May 6, 2025): Around 54,550, down 0.7% from the opening at 54,918
Trend: Neutral with a bearish bias. The index has declined from its opening, forming weak candles on the daily chart, indicating hesitation and potential profit booking near resistance zones.
#Key Support and Resistance Levels
Support:
Immediate support at 53,500 (spot). This zone is critical, as a breach could lead to further downside toward 52,600 or 52,450.
Resistance - 54,400 to 54,500 it can retest and then for the further downside.
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renderwithme
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.