Weekly Recap:
The Bank Nifty closed the week at 49,099.45, posting a decline of -2.11%. The index faced selling pressure throughout the week, reflecting broader market weakness.
Key Weekly Levels for Next Week
Price Action Pivot Zone:
The crucial range to watch for potential reversals or trend continuation is 48,996 - 49,182.
Support & Resistance Levels:
Support Levels:
S1: 48,658
S2: 48,217
S3: 47,937
Resistance Levels:
R1: 49,544
R2: 49,989
R3: 50,310
Market Outlook:
Bullish Scenario: If Bank Nifty sustains above 49,182, it could see buying interest, potentially pushing towards R1 at 49,544 and higher levels.
Bearish Scenario: A breakdown below 48,996 could trigger further downside pressure, targeting S1 at 48,658 and lower support levels.
Conclusion: Bank Nifty remains in a weak phase, and next week’s action around the pivot range will be crucial. Sustaining above 49,182 may lead to a bullish recovery, while a breakdown below 48,996 could accelerate the downside move. Stay alert and trade with caution!
The Bank Nifty closed the week at 49,099.45, posting a decline of -2.11%. The index faced selling pressure throughout the week, reflecting broader market weakness.
Key Weekly Levels for Next Week
Price Action Pivot Zone:
The crucial range to watch for potential reversals or trend continuation is 48,996 - 49,182.
Support & Resistance Levels:
Support Levels:
S1: 48,658
S2: 48,217
S3: 47,937
Resistance Levels:
R1: 49,544
R2: 49,989
R3: 50,310
Market Outlook:
Bullish Scenario: If Bank Nifty sustains above 49,182, it could see buying interest, potentially pushing towards R1 at 49,544 and higher levels.
Bearish Scenario: A breakdown below 48,996 could trigger further downside pressure, targeting S1 at 48,658 and lower support levels.
Conclusion: Bank Nifty remains in a weak phase, and next week’s action around the pivot range will be crucial. Sustaining above 49,182 may lead to a bullish recovery, while a breakdown below 48,996 could accelerate the downside move. Stay alert and trade with caution!
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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.