Bank Nifty Weekly Analysis: Key Levels & Trend Outlook

Weekly Recap:
The Bank Nifty closed the week at 48981, posting a decline of -0.24%.

Key Weekly Levels for Next Week
Price Action Pivot Zone:

The crucial range to watch for potential reversals or trend continuation is 48,948 - 49,092

Support & Resistance Levels:
Support Levels:
S1: 48, 738
S2: 48,540
S3: 48,100
Resistance Levels:
R1: 49,248
R2: 49,426
R3: 48,881

Market Outlook:

Bullish Scenario: If Bank Nifty sustains above 49,092, it could see buying interest, potentially pushing towards R1 at 49,248 and higher levels.
Bearish Scenario: A breakdown below 48,948 could trigger further downside pressure, targeting S1 at 48,738 and lower support levels.