Bank Nifty Holds 53,750; Hurdles Stack Above

Bank Nifty found support near the 53,750 zone flagged last week and recovered to close the week at 54,686.95, up about 0.74% from 54,287.35. That support has now held on its first real test. Overhead, the 50 SMA near 55,948 is the immediate hurdle, followed by the Falling Window resistance around 56,165 to 56,200. A descending trendline from the September highs sits in between, and the 200 SMA near 56,700 is the major resistance beyond. RSI improved to about 45 from 38, and RSI itself is tracing a modest rising trendline off its lows, an early sign that momentum may be stabilising. The 53,750 level remains the one to watch on a weekly closing basis. A sustained close below it would weaken the picture and bring the Gartley C-point zone of 52,640 to 53,000 into focus. Bank Nifty is led by heavyweights such as HDFC Bank, ICICI Bank,

, Axis Bank and Kotak Mahindra Bank. Their price behaviour near the resistance cluster is worth observing. When support holds on its first test, the focus shifts to the resistance cluster above; stacked hurdles show where a recovery may face its real test. Disclaimer: This is for educational purposes only and is not investment advice. Please consult your financial advisor before making any investment decisions. SEBI Registered Research Analyst — INH000025212.