Nifty Bank Index
شراء

BANKNIFTY 1D Time frame

29
✅ Current Facts

Current Level: ~ 55,400 – 55,480

Trend: Mildly bullish; trading above short-term moving averages (20-day & 50-day EMA).

Momentum Indicators:

RSI (14-day): ~61 → bullish but not overbought.

MACD: Positive → supporting the upward trend.

Price Action: Daily candles show small upper wicks → minor profit-taking near resistance.

⚙️ Outlook

Bullish Scenario:

Holding above 55,350 → retest 55,550–55,600 and possibly 55,700–55,750.

Range / Consolidation:

Price oscillates between 55,350 – 55,550 → sideways trading likely.

Bearish Scenario:

Close below 55,350 → downside risk toward 55,150–55,200 or lower.

⚠️ Key Facts

55,400 – 55,500 is acting as a short-term pivot: above it favors bulls, below it favors bears.

Resistance at 55,550–55,600 is the first hurdle; breakout here can lead to further upside.

Support at 55,300–55,350 is critical; failing to hold may lead to short-term correction.

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