Bank Nifty Weekly Insights: Key Levels & Trends

The Bank Nifty ended the week at 55,589.25, gaining +2.21%.

🔹 Key Levels for the Upcoming Week
📌 Price Action Pivot Zone:
55,472 to 55,707 – This blue-shaded range is the crucial zone to monitor. A breakout or breakdown from this area may determine next week’s directional bias.

🔻 Support Levels:
S1: 55,119
S2: 54,650
S3: 54,067
🔺 Resistance Levels:
R1: 56,063
R2: 56,536
R3: 56,938

Market Outlook
✅ Bullish Scenario:
If Bank Nifty sustains above the pivot high of 55,707, buyers may extend control, propelling the index toward R1 (56,063). Continued strength could open the path to R2 (56,536) and R3 (56,938).

❌ Bearish Scenario:
A breakdown below the pivot low of 55,472 could invite selling pressure. On the downside, the index may test S1 (55,119), with extended weakness dragging it toward S2 (54,650) and S3 (54,067).

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