- The BANKNIFTY index opened the week with a significant gap-up of around 1,300 points at 52,299 and ended at 54,290.20, registering a strong weekly gain of 6.45% due to positive global cues and tariff updates.
- On the daily timeframe, the index is trading above its 100 and 200 EMAs, signaling underlying bullish strength. From a momentum perspective, the RSI stands at 72.28—approaching overbought territory, yet still leaving room for further upside.
- Importantly, the index has marked a lifetime high weekly close, reinforcing the overall positive sentiment. Looking ahead, key resistance levels to watch are 54,500 and 56,000. On the downside, support is expected around 53,000 and 52,500
| LTP | R1 | R2 | S1 | S2 |
|---|---|---|---|---|
| 54,290.20 | 54,500 | 56,000 | 53,000 | 52,500 |
