Bank Nifty is trying to stabilise above the key support zone of 59,000–59,150, which aligns with recent swing lows and a crucial accumulation area; holding this band keeps the medium‑term structure positive and favours a buy‑on‑dips approach. Immediate resistance lies at 59,450–59,650, and a sustained move above this zone can open upside toward 60,000–60,500 in the near term. As long as the index defends 59,000 on closing basis, aggressive shorts are risky and traders can look to build long positions closer to 59,000–59,150 with a tight stop just below 58,800, aiming for a 300–600‑point bounce.
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