Bank Nifty index is trading flat. The index has been struggling to breach 52,800 for more than a week. It is currently trading marginally down at 52,260. The advances/declines ratio is at 6:6. This gives a mixed picture. It indicates that the index can go either way from here.

Bank Nifty index outlook

Intraday support is at 52,100. A break below this support can increase the downside pressure. Such a break can take the Bank Nifty index down to 51,750 and even lower in the coming sessions.

The level of 52,800 will continue to remain as an important resistance. The index has to breach this hurdle to become bullish. Only then a rise to 53,400-53,500 will come into the picture.

Bank Nifty Futures

The Bank Nifty July Futures (52,380) are marginally up now. The immediate outlook is mixed and unclear. The contract has support at 52,150. A break below it can take the contract down to 51,950.

Resistance is in the 52,800-52,900 region. A break above 52,900 will be bullish to see 53,300 on the upside.

So, broadly, 52,150-52,900 can be the trading range for now. A breakout on either side of this range will determine the next move.

Trade Strategy

Since the immediate view is range bound and unclear, we suggest traders to stay out of the market.

Supports: 52,150, 51,950

Resistances: 52,900, 53,300

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