Will Bank Nifty Sustain Above 61360 or Retest 60800?
About the Current Structure
Bank Nifty is trading near 61043 with short-term moving averages clustered around current levels.
The 20-hour and 40-hour EMAs are placed at 61104 and 61080, while the 20-day and 40-day EMAs are positioned at 60611 and 60137 respectively.
The index is positioned between immediate resistance and layered support zones, making 61360 the pivotal intraday level.
Key Intraday Levels
🔹 CMP: 61043.35
🔹 Resistance Zone: 61360
🔹 Higher Resistance: 61435–61550
🔹 Extended Resistance: 61700–61820
🔹 Immediate Support: 60800–60730
🔹 Secondary Support: 60550–60480
🔹 Major Support: 60250–60000
For active traders, disciplined positioning through Nifty Option Levels frameworks helps align strategy with resistance-based supply zones.
Scenario Planning
| Scenario | Implication |
|---|---|
| Fail to Break 61360 | Retest 60800–60730 and lower supports |
| Break & Sustain Above 61360 | Move toward 61435–61550 and possibly 61700+ |
Intraday bias remains dependent on price behavior around 61360. Holding below this resistance keeps the pressure toward downside supports.
Upside Triggers🔹 Sustained breakout above 61360 🔹 Strong banking stock participation 🔹 Volume expansion on breakout |
Downside Risks🔹 Rejection at 61360 🔹 Weak financial breadth 🔹 Breakdown below 60800 |
Trading View
As long as Bank Nifty remains below 61360 on a sustained basis, the structure favors retesting 60800–60730. A clean breakout and hold above 61360 can shift momentum toward 61435–61550 and beyond.
Broader exposure management can be aligned via BankNifty Option Levels strategies during resistance tests.
Investor Takeaway: Derivative Pro & Nifty Expert Gulshan Khera, CFP®, emphasizes watching 61360 as the decision zone. Respect resistance until decisively broken, and monitor support integrity near 60800 for downside risk control. Explore structured market approaches at Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.
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.
