Bank Nifty is expected to open flat near the 56,450–56,500 zone, reflecting indecision after recent range-bound sessions. The index has been oscillating within a narrow band, indicating consolidation between key support and resistance levels.
If Bank Nifty sustains above 56,550–56,600, a breakout may push the index toward 56,750, 56,850, and 56,950+. A close above 56,950 will strengthen the bullish sentiment and open the path toward 57,200+.
On the downside, support lies near 56,450–56,400. A breakdown below this zone could trigger mild selling pressure, dragging the index toward 56,250, 56,150, and 56,050-.
Overall, the trend remains neutral with slight bullish bias. Traders should wait for confirmation beyond 56,600 or below 56,400 before taking directional trades. Maintaining a strict stop loss and partial profit booking at each target is advisable due to intraday volatility.
If Bank Nifty sustains above 56,550–56,600, a breakout may push the index toward 56,750, 56,850, and 56,950+. A close above 56,950 will strengthen the bullish sentiment and open the path toward 57,200+.
On the downside, support lies near 56,450–56,400. A breakdown below this zone could trigger mild selling pressure, dragging the index toward 56,250, 56,150, and 56,050-.
Overall, the trend remains neutral with slight bullish bias. Traders should wait for confirmation beyond 56,600 or below 56,400 before taking directional trades. Maintaining a strict stop loss and partial profit booking at each target is advisable due to intraday volatility.
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📣 Telegram: t.me/tradzooIndex
📣 Forex Telegram: t.me/tradzoofx
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