Bank Nifty Weekly: Private Banks Lead the Rebound

Bank Nifty closed the week at 55,844, up 1.06%, after touching an intraweek high of 56,065, just short of the Falling Window resistance near 56,200. Private banks led the gains, with

up 3.10%, HDFC Bank 3.05%, Axis Bank 2.45% and Kotak Bank 1.45%. The 54,380 support has now held for a second week, and the index trades more than 1,400 points above it. Price sits just below the 50-day average (56,485) and the 200-day average (56,928), which form a cluster with the 56,200 resistance. RSI at 51.91 has moved just above the midline. Levels: resistance at 56,200, 56,485 and 56,928. Support at 55,370, then 54,380. Deeper support sits at 52,640-53,000, the Gartley C-point zone. Clearing 56,200-56,485 would bring the 200-day average into focus, though supply may appear around this cluster. Holding above 55,370 without a breakout would point to consolidation. A pullback towards 54,380 would keep the broader structure intact while that level holds, and a closing breach would put the 52,640-53,000 zone in focus. When a falling window and moving averages sit together, the zone often needs more than one attempt to clear, and the reaction there is informative. 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.