Bank Nifty Weekly Analysis: Key Levels & Trend Outlook

Weekly Recap:
The Bank Nifty closed the week at 51,502.7, posting a decline of -0.12%.

Key Weekly Levels for Next Week
Price Action Pivot Zone:

The crucial range to watch for potential reversals or trend continuation is 51,617 to 51,390

Support & Resistance Levels:
Support Levels:

• S1: 51,051
  
• S2: 50,599
  
• S3: 50,149
  

Resistance Levels:

• R1: 51,959
  
• R2: 52,415
  
• R3: 52,833
  

Market Outlook:

Bullish Scenario: If Bank Nifty sustains above 51,617, it could see buying interest, potentially pushing towards R1 at 51,959 and higher levels.
Bearish Scenario: A breakdown below 51,390 could trigger further downside pressure, targeting S1 at 51,051 and lower support levels.

Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research or consult a financial advisor before making any trading decisions.