Nifty Bank overview

 

Technical Analysis of Nifty Bank Index

1. Support and Resistance Levels Resistance Levels:

51,273.50 (Near-term resistance)

51,300+ (Strong resistance zone)

Support Levels:

51,148.40 (Immediate support, currently testing)

51,100.20 (Key support zone)

50,928.75 (Next strong support)

50,842.35 (Major support)

2. Trend and Technical Outlook The price has been trading within an ascending channel, but it is currently testing the lower boundary.

If it breaks below the 51,100 level, the next support could be 50,928 or 50,842.

Volume analysis shows that selling pressure is increasing.

RSI (Relative Strength Index) is in a downward trend, indicating weak momentum and possible further downside.

Trading Strategy Short-Term View (Intraday to 1-2 Days) Scenario 1: Bullish Reversal

If the index holds 51,148 – 51,100 support and rebounds, a buying opportunity emerges.

Target: 51,273 - 51,300

Stop Loss: Below 51,100

Scenario 2: Breakdown Below 51,100

If the index breaks 51,100, further selling could lead to 50,928 or 50,842.

Target: 50,928 - 50,842

Stop Loss: Above 51,200 (for short positions)

Medium-Term View (1 Week – 1 Month) If the index sustains above 51,300, we can expect an upward move toward 51,500+.

A breakdown below 50,842 may lead to a deeper correction toward 50,500 levels.

Long-Term View (1 Month – 6 Months) Uptrend remains intact unless the index falls below 50,500.

If it breaks below 50,500, a deeper correction towards 49,500 – 49,000 is possible.

For bullish momentum, the index must break and sustain above 51,500 to target 52,000+.

Conclusion Short-Term: Watch 51,100 for support. A rebound can lead to 51,273; a breakdown can target 50,928.

Medium-Term: Above 51,300 is bullish; below 50,842 is bearish.

Long-Term: Above 51,500 = bullish trend continuation, below 50,500 = deeper correction.

Nifty Bank Index – Trend & Directional View Current Trend: 🔹 Short-Term (Intraday - 1 Week): Weakening Uptrend / Breakdown Risk 🔹 Medium-Term (1 Week - 1 Month): Range-bound / Sideways to Bearish 🔹 Long-Term (1 Month - 6 Months): Bullish, but at risk if 50,500 breaks

Which Side Will the Market Move? 📉 Bearish Bias (Downside Risk Dominant)

1️⃣ Short-Term (Intraday – 1-2 Days)

The index is testing the 51,100 support.

If it breaks below 51,100, we may see a move toward 50,928 or 50,842.

A breakdown below 50,842 will confirm a stronger bearish move.

2️⃣ Medium-Term (1 Week - 1 Month)

As long as the index stays below 51,300, it will likely remain sideways to bearish.

If it breaks above 51,300, we may see bullish momentum again toward 51,500+.

3️⃣ Long-Term (1 Month - 6 Months)

Bullish outlook remains intact as long as the index stays above 50,500.

If 50,500 breaks, we may see a larger correction to 49,500 – 49,000.

Final View – Immediate Direction 🚦 🔻 Bearish Below 51,100 – Targets: 50,928 & 50,842 🔼 Bullish Only Above 51,300 – Targeting 51,500+

Key Level to Watch: 51,100

Holding above = Possible bounce 📈

Breaking below = More downside 📉