Bank Nifty View: Below 59600 → 58800 Possibleđ Core Statement“Bank Nifty may go down to 58,800 if it stays below 59,600.”đ From a technical analysis point of view, this statement is logically valid.đ Why 59,600 Is a Crucial Level59,600 is acting as a strong resistance / breakdown confirmation levelIf price fails to reclaim and hold above 59,600, sellers stay in control
đ Bank Nifty View: Below 59600 → 58800 Possible
đ Core Statement
“Bank Nifty may go down to 58,800 if it stays below 59,600.”
đ From a technical analysis point of view, this statement is logically valid.
đ Why 59,600 Is a Crucial Level
59,600 is acting as a strong resistance / breakdown confirmation level
If price fails to reclaim and hold above 59,600, sellers stay in control
Rejections near this zone usually invite short covering pressure downward
đ Technical Logic Behind 58,800 Target
1️⃣ Price Structure
Below 59,600, Bank Nifty forms lower high structure
Indicates trend weakness, not strength
2️⃣ Support Mapping
Nearest visible demand zone lies around 58,800
This level previously acted as:
Short-term base
Bounce area in recent sessions
3️⃣ Momentum Indicators (Typical Behavior)
RSI generally slips below 50
MACD often stays in negative or flat zone ➡️ Confirms bearish bias, not reversal
đ§ Trading Psychology
Above 59,600 → bulls regain confidence
Below 59,600 → traders expect “sell on rise”
Stops of long positions get triggered → fast fall toward 58,800
⚠️ Important Conditions (Very Important)
This view remains valid only if:
Bank Nifty fails to close above 59,600
No strong bullish candle with volume appears above resistance
❌ If Bank Nifty reclaims 59,600 and sustains,
then 58,800 target becomes invalid.
đ Risk Disclaimer
This analysis is for educational and informational purposes only.
I am not a SEBI-registered advisor.
Market conditions can change rapidly.
Always use proper stop-loss and trade according to your own risk capacity.
𧊠Quick Summary
đģ Below 59,600 → Bearish bias
đ¯ Downside target → 58,800
đŧ Above 59,600 → View changes
Written with AI
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