Will BankNifty Hold 56,675 Support On 29 July 2026?
BankNifty begins the session at 56,755.60, trading below both its short-term hourly moving averages while remaining between its longer-term daily EMAs. The most important level for today's session is the 56,675 support zone. Holding this level could trigger a recovery towards 56,925–57,000 and higher, while a sustained break may expose the index to further downside.
Key Technical Levels
- Current Market Price (CMP): 56,755.60
- 20-Hour EMA: 56,902
- 40-Hour EMA: 57,033
- 20-Day EMA: 57,303
- 40-Day EMA: 56,975
Support And Resistance Levels
Support Levels
- 56,675 (Key Intraday Support)
- 56,465
- 56,300
- 56,000
- 56,925–57,000
- 57,105–57,350
- 57,500–57,800
Intraday Trading Strategy
Bullish Scenario:
If BankNifty sustains above 56,675 after the opening session, buyers may attempt to push the index towards 56,925–57,000. A decisive move above this zone could extend the rally towards 57,105–57,350, followed by 57,500–57,800.
Bearish Scenario: If 56,675 fails to hold on a sustained basis, selling pressure could intensify with downside targets at 56,465, followed by 56,300 and potentially 56,000.
Bearish Scenario: If 56,675 fails to hold on a sustained basis, selling pressure could intensify with downside targets at 56,465, followed by 56,300 and potentially 56,000.
Investor Takeaway
Indian-Share-Tips.com Nifty Expert Gulshan Khera, CFP®, who is also a SEBI Registered Investment Adviser, observes that 56,675 is the defining level for today's BankNifty session. Holding above this support could encourage a relief rally towards the immediate resistance zone, while a sustained breakdown below it may keep bears in control. Traders should wait for confirmation before initiating fresh positions and maintain disciplined risk management.Read more daily market analysis at Indian-Share-Tips.com.
Written by Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.
Disclaimer: This market view is intended for educational and informational purposes only and should not be considered investment advice. Intraday market movements can be volatile. Always use appropriate risk management and consult a SEBI Registered Investment Adviser before making trading decisions.
Disclaimer: This market view is intended for educational and informational purposes only and should not be considered investment advice. Intraday market movements can be volatile. Always use appropriate risk management and consult a SEBI Registered Investment Adviser before making trading decisions.
