Bank Nifty Prediction Next Week: Bank Nifty opened on a flat note and showed strength during the early trading sessions of the week, rallying to a high of 55,554.15, suggesting initial bullish momentum and buying interest.

However, the index failed to sustain at higher levels, indicating selling pressure, and underwent a correction, forming a weekly low of 53,240.60. It eventually closed at 53,427.05, ending in the red for the 4th  consecutive week, which suggests persistent weakness and continued bearish sentiment in the market.

READ MORE: Nifty prediction for next week

Price action weakened significantly after the index broke below the crucial 54,000 support level and closed beneath the 100-week EMA, which typically signals a bearish trend reversal and deterioration in the long-term structure.

Bank Nifty Falls 13.5% From Record High

The index has now corrected nearly 13.5% from its all-time high, indicating that the market is undergoing a deeper corrective phase.

Hitesh Tailor, Research Analyst, Choice Equity Broking, said that Bank Nifty's downside targets are seen in the 53,000–52,000 zone in the near term, with the possibility of further decline if selling pressure intensifies.

On the upside, 54,000 acts as the immediate resistance, while 54,500 and 55,000 represent the next key supply zones, the analyst said.

Bank Nifty RSI

"From a momentum standpoint, the weekly RSI at 33.82 indicates weak momentum and a move toward the oversold region. A sustained close above 54,000 could signal strengthening bullish momentum and potentially trigger a recovery. However, failure to reclaim this level may keep the index under short-term corrective pressure," the expert said.

Bank Nifty Support: 53,000-52,000

Bank Nifty Resistance: 54,000 -55,000

Bank Nifty Trend: Sideways to Bearish