Bank Nifty Key Levels & Outlook
Bank Nifty significantly underperformed the broader market recently, sliding nearly 3.82% to close around the 50,275 mark.
Support: Immediate support is seen in the 49,900 – 50,000 zone. If this breaks, the next major support lies around 49,500.
Resistance: On the upside, resistance is expected at 50,500 – 50,600 and more strongly at 51,000.
Trend: The bias remains Bearish. The RSI has slipped below 30, indicating that while the index is in oversold territory, the downward momentum is still strong.
Bank Nifty significantly underperformed the broader market recently, sliding nearly 3.82% to close around the 50,275 mark.
Support: Immediate support is seen in the 49,900 – 50,000 zone. If this breaks, the next major support lies around 49,500.
Resistance: On the upside, resistance is expected at 50,500 – 50,600 and more strongly at 51,000.
Trend: The bias remains Bearish. The RSI has slipped below 30, indicating that while the index is in oversold territory, the downward momentum is still strong.