Bank Nifty is expected to witness a flat opening today, with the index likely to hover around the 55,150 zone. The market has been consolidating in a narrow range, and today’s opening indicates that traders may need to watch for decisive breakouts to confirm directional moves.
On the upside, if Bank Nifty manages to sustain above the 55,050–55,100 levels, buying momentum could pick up, leading the index higher towards 55,250, 55,350, and 55,450+. A further breakout above 55,550–55,600 could extend the rally towards 55,750, 55,850, and even 55,950 levels, where strong resistance is placed.
On the downside, if the index slips below 55,000, weakness may return, dragging the index towards 54,750, 54,650, and 54,550. A breakdown below 54,500 would open the gates for deeper declines, exposing 54,250–54,200 levels as the next critical supports.
Overall, the 55,000–55,200 range will act as the key intraday pivot. Traders should remain cautious in this consolidation phase, with opportunities for both quick upside moves and sharp downside reversals. Following strict stop losses and booking partial profits at key levels will remain crucial in today’s session.
On the upside, if Bank Nifty manages to sustain above the 55,050–55,100 levels, buying momentum could pick up, leading the index higher towards 55,250, 55,350, and 55,450+. A further breakout above 55,550–55,600 could extend the rally towards 55,750, 55,850, and even 55,950 levels, where strong resistance is placed.
On the downside, if the index slips below 55,000, weakness may return, dragging the index towards 54,750, 54,650, and 54,550. A breakdown below 54,500 would open the gates for deeper declines, exposing 54,250–54,200 levels as the next critical supports.
Overall, the 55,000–55,200 range will act as the key intraday pivot. Traders should remain cautious in this consolidation phase, with opportunities for both quick upside moves and sharp downside reversals. Following strict stop losses and booking partial profits at key levels will remain crucial in today’s session.
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📣 Telegram: t.me/tradzooIndex
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