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Nifty 50 and Bank Nifty: Will Key Levels Hold Amidst Consolidation?
M
Moneycontrol•23-09-2026, 08:34
Nifty 50 and Bank Nifty: Will Key Levels Hold Amidst Consolidation?
- •Nifty 50 is in a consolidation phase, needing to break above 23,600 or below 23,000 for a clear trend.
- •Bank Nifty must defend 56,000; a break could lead to 55,700, while 56,700-57,000 acts as resistance.
- •Experts suggest a buy-on-dips strategy for Nifty 50 as long as crucial support levels hold.
- •Bank Nifty remains range-bound; a decisive move above 57,000 or below 55,700 will determine the next trend.
- •Selling pressure observed in both indices, with Nifty 50 closing below its upward-sloping channel and Bank Nifty facing resistance at higher levels.
Key Questions Answered
The Nifty 50 faces immediate support at 23,200, with a crucial support zone at 23,100 to 23,000, while resistance is positioned between 23,500 and 23,600.
On September 22, the Nifty 50 declined by 85 points, or 0.36 percent, to close at 23,329, and the Bank Nifty slipped 255 points, or 0.45 percent, to finish at 56,216.
Bank Nifty needs to defend the 56,000 level, as a breakdown could trigger a decline toward 55,700, whereas an upside move requires breaking above 56,700 to 57,000.
