Quote on Bank Nifty 07th October 2026 by Vatsal Bhuva, Technical Analyst at LKP Securities
Below the Quote on Bank Nifty 07th October 2026 by Vatsal Bhuva, Technical Analyst at LKP Securities
"Bank Nifty witnessed volatility during Wednesday’s session following the RBI monetary policy announcement. The index faced resistance near the 55,200 level; however, it managed to close above the crucial 55,000 mark. The short-term view remains mildly bullish, with scope for a recovery within the broader downtrend if the index sustains above 55,200. The broader structure remains bearish. Short positions can be covered at current levels. Immediate support is placed at 54,800, while resistance stands at 55,200. A sustained breakout above 55,200 may open upside towards 55,800. Level-wise trading is advisable."
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