Bank Nifty – Weekly Outlook
Bank Nifty closed the week near 59,389, extending gains helped by rate-sensitive optimism following the RBI’s dovish tone. The index has established a solid base above its rising-channel support, and prior resistance near 59,500 is now acting as demand on dips. The broader trend remains firmly pointed upward.
Sustained trade above 59,600–59,700 could open a clean upward extension toward the 60,000–61,000 zone, supported by improving credit demand and favourable borrowing conditions. Downside support is placed at 59,000–58,800; a break below this may introduce short-term caution, but the medium-term trend continues positive.