BankNifty 1 Day Time Frame

📊 1-Day Timeframe Technical Analysis
Current Price: ₹56,204.60
Day's Range: ₹55,843.90 – ₹56,286.25
52-Week Range: ₹47,702.90 – ₹57,628.40
Year-to-Date Return: +10.39%
1-Month Return: +3.56%

🔧 Technical Indicators
Trend: Neutral
Resistance Levels: ₹56,230 (immediate), ₹56,600 (stronger)
Support Levels: ₹55,843
Technical Rating: Neutral

📈 Market Outlook
The Bank Nifty Futures are currently trading within a rising wedge pattern, indicating consolidation with potential for reversal. Immediate resistance is observed around ₹56,230, which may act as a strong supply zone leading to potential selling pressure. A decisive breakout above ₹56,600 would turn the outlook bullish.