Bank Nifty Weekly Update & Key Levels

📌 Weekly Recap:
Bank Nifty closed the week at 50,593.55, recording a strong gain of 5.27%.

Key Levels for the Upcoming Week
🔹 Price Action Pivot Zone:
The crucial range to watch for potential trend reversals or continuation is 50,482 - 50,707.
🔹 Support & Resistance Levels:

Support:

• S1: 50,146
  
• S2: 49,698
  
• S3: 46,956
  

Resistance:

• R1: 51,046
  
• R2: 51,470
  
• R3: 51,893
  

Market Outlook

✅ Bullish Scenario: A sustained move above 50,707 could drive buying momentum, pushing Bank Nifty towards R1 (51,046) and higher.

❌ Bearish Scenario: If the index falls below 50,482, selling pressure may intensify, dragging it towards S1 (50,146) and lower support levels.

Disclaimer: This analysis is for educational purposes only. Investors should conduct their own research before making any trading decisions.