Key Levels For The Bank Nifty (57,370)
Resistance based on pivot points: 57,592, 57,675, and 57,810
Support based on pivot points: 57,322, 57,239, and 57,105
Resistance based on Fibonacci retracement: 57,684, 58,137
Support based on Fibonacci retracement: 57,135, 56,870
Special Formation: The Bank Nifty ended flat with a negative bias and formed a bearish candle with a noticeable upper shadow on the daily timeframe, indicating continued selling pressure at higher levels. The index failed to sustain above the short-term moving averages for the fourth consecutive session on a closing basis, but managed to defend its 50-day EMA over the past two sessions. The RSI at 48.22 remained largely sideways with a negative crossover, while the MACD continued to trend downward and fell below the zero line, accompanied by a gradual expansion in the red histogram bar for the fourth consecutive day. All these technical indicators suggest that the near-term trend remains weak, wi...
September 7, 2026 36
