Will BankNifty Sustain Below 61150 or Reverse Toward 61820?
BankNifty is currently trading at 60,739.55, positioned between key intraday resistance zones and critical short-term support levels. The index is navigating a technically sensitive area where exponential moving averages and supply zones are tightly clustered. This setup often precedes either a sharp continuation move or a decisive reversal.
For 20 February 2026, the key tactical focus remains around the 61,150–61,325 resistance band. Price behavior around this “rest zone” will likely determine whether BankNifty remains in a sell-on-rise structure or transitions toward a sideways-to-bullish setup.
Moving Average Structure
| 20 Hour EMA | 61,087 |
| 40 Hour EMA | 60,933 |
| 20 Day EMA | 60,359 |
| 40 Day EMA | 59,918 |
Price is currently trading below both 20-hour and 40-hour EMAs, indicating short-term weakness. However, it remains above the 20-day and 40-day EMAs, suggesting that the broader daily trend still retains structural support.
This creates a classic compression setup: intraday weakness within a medium-term supportive framework. Such environments often produce volatile sessions.
Support & Downside Levels
Primary supports are placed at 60,480, followed by 60,250 and 60,110. A broader downside extension zone lies near 59,850.
The 60,480 level aligns closely with intraday structure and short-term demand pockets. If breached with momentum, 60,250–60,110 becomes the next liquidity zone where buyers may attempt stabilization.
A breakdown below 59,850 would shift the medium-term tone and could invite stronger selling pressure.
Resistance & Upside Zones
Immediate resistance lies at 60,865–61,025. The critical rest zone is 61,150–61,325. Higher targets are placed at 61,460–61,820.
The 61,150–61,325 zone acts as a decision band. As long as BankNifty trades below this band, the short-term bias remains weak and rallies are likely to face supply.
A sustained close above 61,325 would indicate absorption of supply and potential transition toward sideways-to-bullish structure.
Intraday Trading View
Key level to monitor: 61,150–61,325. Below this zone, sell-on-rise strategy remains active targeting 60,480 and lower levels.
If price fails repeatedly near 61,150, it reinforces intraday weakness. However, if price sustains above 61,325 with volume support, short covering toward 61,460 and 61,820 may unfold.
Short-term trend reversal level remains unconfirmed. This suggests traders should remain disciplined and reactive rather than predictive.
Structure Interpretation
Below 61,150 → Weak intraday bias.
Above 61,325 close → Sideways to bullish shift.
Market participants must differentiate between intraday momentum and positional confirmation. Hourly EMA alignment suggests caution, but daily EMAs provide underlying cushion.
Volatility may expand near resistance clusters. Traders should avoid emotional entries and instead wait for structure confirmation.
For structured intraday derivatives strategies aligned with disciplined levels:
Risk Management Perspective
When resistance and moving averages cluster closely, whipsaws become common. Position sizing discipline is crucial. Avoid chasing breakouts without candle confirmation.
Intraday traders should track:
- Price behavior near 61,150
- Hourly candle closes above 61,325
- Volume expansion near breakout zones
- Reaction near 60,480 support
Failure to hold 60,480 may accelerate momentum toward 60,110–59,850.
Investor Takeaway
BankNifty is positioned in a technically sensitive zone. The 61,150–61,325 band remains the decisive resistance. Below it, weakness persists with downside targets near 60,480 and 60,110. A sustained close above 61,325 can trigger a shift toward 61,820 levels.
Traders should remain level-focused rather than emotionally reactive. Structured execution and disciplined risk management remain critical in such compressed technical environments.
Explore structured market insights 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.
