Quote on Bank Nifty 16th January 2026 from Mr. Nilesh Jain, Head - Technical and Derivatives Research Analyst (Equity Research), Centrum Broking Ltd
Below the Quote on Bank Nifty 16th January 2026 from Mr. Nilesh Jain, Head - Technical and Derivatives Research Analyst (Equity Research), Centrum Broking Ltd
"The Bank Nifty continued to display notable resilience and outperformed the broader Nifty index on a weekly closing basis. The index decisively crossed the psychologically important 60,000 level and is currently trading comfortably above all its key short-term as well as long-term moving averages, highlighting underlying strength and sustained buying interest. The immediate support is placed at the 21-DMA near 59,480 levels, followed by the next crucial support zone around 59,200–59,190 levels. The overall technical structure remains constructive, suggesting that the uptrend is firmly intact. Given the strong price action and supportive trend indicators, Bank Nifty appears well-positioned to scale fresh record highs in the near term, with an upside potential towards the 60,500 mark in the short term."
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