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 → trad...