Banknifty Target in the next 1-2 months
Bank Nifty has just broken out of a 5-month range with a very strong run. The likely path for the next month is a pause or pullback first, then an attempt at 60,600–61,700 . A close back below about 57,800 would cancel that bullish view. 1. What the chart shows Last price is 59,086 . This is my reading of the timeline: Phase Approx. period What happened Uptrend Oct–Nov 2025 54,500 → 59,000 Top zone Dec 2025 – Feb 2026 58,500–60,500, peak about 61,700 Crash Mar–Apr 2026 61,700 → about 50,000 (–19%) Recovery Apr–May 50,000 → 57,400 Range Jun–Oct Mostly 53,000–58,700 Double bottom Sep and late Oct Lows near 53,700–54,000 Breakout Late Oct – now 53,700 → 59,086 (+10%), last 4–5 candles strongly green, last candle closes near its high 2. Key levels Resistance (above) 59,000–59,200 : the current level. It was the breakdown zone of Feb–Mar and is roughly where the index topped out in Nov 2025. 60,000 : round number, and the base of th...