Bank Nifty Weekly Analysis: Key Levels & Trend Outlook

Weekly Recap:
The Bank Nifty closed the week at 48344.70, posting a decline of -1.30%.

Key Weekly Levels for Next Week
Price Action Pivot Zone:

The crucial range to watch for potential reversals or trend continuation is 48,236 - 48,455

Support & Resistance Levels:
Support Levels:

• S1: 47,907
  
• S2: 47,470
  
• S3: 46,956
  

Resistance Levels:

• R1: 47,907
  
• R2: 47,470
  
• R3: 46,956
  

Market Outlook:

• Bullish Scenario: If Bank Nifty sustains above 48,455, it could see buying interest, potentially pushing towards R1 at 48787 and higher levels.
  
• Bearish Scenario: A breakdown below 48,236 could trigger further downside pressure, targeting S1 at 47,907 and lower support levels.