Bank Nifty Weekly Analysis: Key Levels & Trend Outlook

Weekly Recap:
The Bank Nifty closed the week at 48497.5, posting a pull back of 0.32%.

Key Weekly Levels for Next Week
Price Action Pivot Zone:

The crucial range to watch for potential reversals or trend continuation is 48,387 - 48,608
Support & Resistance Levels:
Support Levels:

• S1: 48,059
  
• S2: 47,620
  
• S3: 46,956
  

Resistance Levels:

• R1: 48,939
  
• R2: 49,382
  
• R3: 49,836
  

Market Outlook:

Bullish Scenario: If Bank Nifty sustains above 48,608, it could see buying interest, potentially pushing towards R1 at 48,939 and higher levels.
Bearish Scenario: A breakdown below 48,387 could trigger further downside pressure, targeting S1 at 48,059 and lower support levels.