Will Bank Nifty Hold 60950 or Reverse Intraday?
About the Current Structure
Bank Nifty is trading at 61,264.25 and remains positioned above its short-term and medium-term exponential moving averages. The 20-hour EMA at 61,170 and 40-hour EMA at 61,063 indicate intraday strength, while the 20-day EMA at 60,515 and 40-day EMA at 60,042 confirm that the broader trend continues to stay constructive.
However, intraday momentum now depends on whether the 60,950 support zone sustains after the opening volatility.
Price structure suggests bullish bias, but sustainability above the control level is critical. A failure to hold key support could shift the tone quickly.
Key Technical Levels to Track
🔹 CMP: 61,264.25
🔹 20 Hour EMA: 61,170
🔹 40 Hour EMA: 61,063
🔹 20 Day EMA: 60,515
🔹 40 Day EMA: 60,042
🔹 Immediate Support: 60,950
🔹 Secondary Supports: 60,730 | 60,550–60,480
🔹 Immediate Resistance: 61,530
🔹 Higher Resistances: 61,820 | 62,050
Intraday participants navigating such pivot-driven structures often align trade execution through Nifty Options Tip for disciplined entries and exits.
Intraday Scenario Mapping
| Price Behaviour | Directional Bias |
|---|---|
| Sustained above 60,950 | Upside attempt toward 61,530 and above |
| Break below 60,950 | Downside move toward 60,730 and lower zones |
The 60,950 level acts as the intraday pivot. Above it, the bias remains buy-on-dips. Below it, selling pressure may accelerate as short-term traders unwind positions.
Strengths🔹 Trading above short-term EMAs 🔹 Broader daily structure positive 🔹 Banking sector leadership intact |
Weaknesses🔹 Resistance overhead at 61,530 🔹 Intraday sensitivity near pivot 🔹 Volatility risk around resistance cluster |
Consolidation near resistance often precedes directional expansion. The trigger will be a sustained breakout beyond 61,530.
Opportunities🔹 Break above 61,530 may trigger momentum rally 🔹 Potential extension toward 61,820–62,050 🔹 Strong banking weight can support broader indices |
Threats🔹 Breakdown below 60,950 expands downside 🔹 Stop-loss cascades near lower supports 🔹 Global cues adding volatility pressure |
Until a decisive break occurs, expect a range-bound movement between 60,950 and 61,530.
Valuation & Investment View
As long as Bank Nifty remains above its 20-day EMA, the broader structure supports higher highs. However, intraday discipline around the 60,950 pivot is essential.
Active traders managing exposure in banking derivatives can consider tactical alignment through BankNifty Options Tip to navigate volatility efficiently.
Investor Takeaway: The 60,950 zone remains the control level for the session. According to Derivative Pro & Nifty Expert Gulshan Khera, CFP®, structured execution around pivot levels improves probability management during intraday swings. Explore disciplined market insights at Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.
Related Queries on Bank Nifty and Intraday Strategy
What is today’s key support for Bank Nifty?
How important is 60,950 for trend direction?
What happens if Bank Nifty breaks 61,530?
How do EMAs guide intraday trades?
Where is the next downside target below support?
SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment advisor before making any investment decisions. The views expressed are general in nature and may not suit individual investment objectives or financial situations.
