Stock Market Live Updates: Bank Nifty breaks key supports, downside risk rises
Bank Nifty is flashing fresh technical warning signs after slipping to a multi-month low. Zee Business Managing Editor Anil Singhvi highlights a series of breakdowns that suggest rising downside risk if the index fails to reclaim key support levels.
– Bank Nifty fell 1.2 per cent to close at 58,473.
– The index ended at its lowest level in two months.
– After September 30, 2025, Bank Nifty had not closed below its 50-day moving average for nearly three months.
– On Friday, it closed below the 50 DMA of 59,312 for the third straight session.
– Bank Nifty slipped below the crucial support of 58,800.
– Since November 14, the index had avoided closing below this level on nine occasions.
– A decisive close below 58,800 over the next one to two sessions could increase the risk of a deeper fall.
– The next major support lies in the 57,550 to 57,750 zone, near the 100-day moving average.