The Bank Nifty may find key support in the 51,000 zone, and a slide below this could signal vulnerability in the uptrend, according to analysts.
“Key support is placed at the 200-day simple moving average, or 51,000. As long as the Bank Nifty stays above this level, the bullish setup is likely to continue,” said Amol Athawale, VP-technical research, Kotak Securities.
On the higher end, it may move towards the resistance of 52,200-52,500. However, if it falls below 51,000, the uptrend would become vulnerable.
A break below the 51,000 level could prompt traders to exit long positions, potentially indicating a shift in the index’s trend, according to Athawale
