- BANKNIFTY ended the week on a positive note at 56,252.85, registering a gain of 1.31%. While Thursday saw muted sentiment due to rising Middle East tensions and hawkish cues from the U.S. Fed, Friday witnessed a recovery led by financial stocks after the RBI relaxed project financing norms.
- On the charts, the index formed a large bullish candle, reflecting strong buying interest and indicating a positive sentiment in the near term. Also it has closed above its 20 EMA which supports the ongoing momentum as well.
- Support levels are placed at 55,800 and 55,500, while resistance levels are seen at 56,500 and 56,800.
| LTP | R1 | R2 | S1 | S2 |
|---|---|---|---|---|
| 56,252.85 | 55,800 | 56,000 | 55,000 | 54,600 |
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