Quote on Bank Nifty 23rd January 2026 from Vatsal Bhuva, Technical Analyst at LKP Securities

2026-01-23 04:28:00 pm | Source: LKP Securities Ltd

Quote on Bank Nifty 23rd January 2026 from Vatsal Bhuva, Technical Analyst at LKP Securities

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Below the Quote on Bank Nifty 23rd January 2026 from Vatsal Bhuva, Technical Analyst at LKP Securities

"Bank Nifty ended the session on a weak note, forming a long bearish candlestick and closing decisively below its 50-day SMA along with key support levels, reflecting strong selling pressure. The RSI is forming lower tops and sloping downward in a bearish crossover, highlighting weakening momentum and a sustained bearish bias. The overall structure suggests the index has clearly entered a “sell on rise” phase. On the downside, the index may test its 100-day moving average, which also acts as a positional support near 57,700. Immediate support is placed at 58,000, while resistance is seen in the 58,800–58,900 zone."

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Quote on Bank Nifty 23rd January 2026 from Vatsal Bhuva, Technical Analyst at LKP Securities

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