- 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 |