In the last trading session, Bank Nifty closed at 52,189.30, down by 379.50 points. Technically, momentum indicators point to a negative trend, with the index closing below short-term moving averages and forming a small black candle on the daily chart, indicating a bearish bias.
Key Levels to Watch:
- Support: 52,100, 51,900, 51,700
- Resistance: 52,350, 52,600, 52,850
A close below the 51,900 support level could extend the downtrend. Otherwise, expect consolidation between 51,900 and 52,700. Positional traders should monitor short-term support at 51,900-50,650 and resistance at 53,250-54,500.