“The benchmark index, Bank Nifty, is currently positioned at 50,952, with a key resistance level at 51,250. Should the index encounter selling pressure, the primary support is established at 50,500, with further support at 50,200. The overall technical outlook remains bullish, and a ‘buy on dips’ strategy is advisable, particularly if the index sustains levels above these critical support zones. This approach is expected to capitalize on the ongoing upward momentum while mitigating downside risks,” said Riyank Arora Technical Analyst at Mehta equities.
