Bank Nifty Futures overview

 

Bank Nifty Futures chart you shared using technical view, support/resistance levels, pivot points, and a quick fundamental perspective.

🔹 1. Technical View Price Action:

The market is in a sideways range between 56,370 (support) and 56,520 (resistance).

The price is currently at the lower range support, testing the demand zone.

RSI Indicator:

RSI is below 30, indicating oversold condition → potential for a short-term bounce if support holds.

But if RSI stays below 30, it may signal strong bearish momentum.

🔹 2. Support & Resistance Levels Immediate Support Zone:

56,360 – 56,340 (currently testing)

If broken → next support 56,280 – 56,250

Immediate Resistance Zone:

56,500 – 56,520

If broken → next resistance 56,600 – 56,650

So, right now the decision point is whether 56,360 support holds.

🔹 3. Pivot Levels (Intraday) Using today’s high (56,380), low (56,354), and close (56,366):

Pivot Point (P) ≈ 56,367

R1 ≈ 56,380, R2 ≈ 56,395

S1 ≈ 56,354, S2 ≈ 56,340

Currently, price is below pivot (P) and near S1/S2, meaning the sentiment is bearish intraday. If S2 breaks, further downside is likely.

🔹 4. Target & Stop Loss Strategy ✅ If you want to BUY (expecting bounce):

Entry: Near 56,360–56,340 support zone

Target: 56,480 → 56,500 (resistance zone)

Stop Loss: Below 56,320

✅ If you want to SELL (if support breaks):

Entry: Below 56,330 (after breakdown confirmation)

Target: 56,280 → 56,250

Stop Loss: Above 56,380

🔹 5. Fundamental View Macro Sentiment: Bank Nifty movement depends on RBI policy outlook, interest rates, banking sector results, and NPA news.

Short-Term: If global markets are weak or FII selling continues, downside pressure remains.

Medium-Term: If earnings are positive and credit growth strong, dips may be bought.

News Trigger: Any banking regulatory updates or inflation data can cause volatility.

📌 Summary Market is in a sideways range, currently testing key support.

RSI shows oversold, so bounce possible but watch for breakdown confirmation.

Trade range-bound unless support/resistance breaks.

Bank Nifty Futures with Short-term, Medium-term & Long-term view, give expected levels, and then create a clear intraday trade plan for today.

🔹 1. Short-Term View (Intraday to 2 days) Trend: Sideways to bearish bias.

Key Range:

Support: 56,360 → 56,280

Resistance: 56,500 → 56,600

RSI: Oversold near support → possible bounce, but breakdown risk exists.

Expectation:

If 56,360 holds, expect a bounce to 56,480-500.

If 56,330 breaks, expect 56,280-56,250 downside.

✅ Short-Term Action: Range-bound → Play bounce or breakdown with tight SL.

🔹 2. Medium-Term View (1–2 weeks) Trend: Neutral, waiting for a breakout from the 55,800 – 57,200 larger range.

Key Levels:

Strong support: 56,000 – 55,800

Resistance zone: 56,800 – 57,000

Expectation:

As long as above 56,000, market may stay sideways & consolidate.

Below 55,800, trend turns bearish towards 55,200-55,000.

Above 57,200, trend turns bullish for 57,800–58,200.

✅ Medium-Term Action: Wait for breakout from the larger consolidation zone before positional trade.

🔹 3. Long-Term View (1–3 months) Trend: Bullish overall if banking fundamentals stay strong.

Key Levels:

Major Support: 55,000

Long-term Target: 58,500 – 59,200 if breakout above 57,500

Fundamentals:

If RBI policy stays supportive, credit growth remains strong → bullish.

If global markets weaken or banking NPAs rise → downside risk.

✅ Long-Term Action: Buy on dips near 55,000–55,500 for 58,500+ target.

🔹 Today’s Trade Plan (21 July 2025) ✅ Buy Trade (if support holds) Entry: 56,360–56,340 (near support)

Target: 56,450 → 56,500

Stop Loss: 56,320

Risk/Reward: ~1:2

✅ Sell Trade (if breakdown) Entry: Below 56,330 (after 1 min candle closes below)

Target: 56,280 → 56,250

Stop Loss: 56,370

Risk/Reward: ~1:2

📌 Preferred Setup:

Wait for the first 15-min candle confirmation after market open.

If RSI reverses upward from oversold → play bounce trade.

If RSI stays below 30 & price breaks 56,330 → play breakdown.

🔹 Quick Expected Levels Summary Timeframe Support Resistance Bias Intraday 56,340 → 56,280 56,500 → 56,600 Sideways/Bearish 1-2 weeks 55,800 57,200 Neutral 1-3 months 55,000 58,500+ Bullish

🔮 My View for Today Since price is at lower support with oversold RSI, initial bounce likely.

But if support fails, expect quick downside to 56,280.

So, watch 56,330 as key trigger level.