Nifty Bank Shows Strength Above 200-DMA for Three Days, Facing Resistance at 52,580. Banking Sector Rally Hints at New Record High, Potential Rise to 57,070.
Nifty Bank: Nifty Bank surpassed its 200-day moving average (200-DMA) for the first time in 2025, maintaining strength for three consecutive days. On Thursday, the index traded at 51,165, while its 200-DMA stood at 50,993. During this period, Nifty Bank exhibited a 9% surge from its March 11 low of 47,703, reaching 52,064 on Tuesday. This rally was primarily driven by a surge in the banking sector, which also propelled the Nifty 50 index upward by 7% (1,555 points).
Banking Sector Rally Supports Nifty Bank
Not only Nifty Bank, but also Nifty Financial Services and Nifty Metal indices have reclaimed their 200-DMAs, indicating a b position in these sectors. According to technical charts, Nifty Bank is currently trading bly and could create a new all-time high in the coming months.
Technical Analysis of Nifty Bank
Nifty Bank is currently trading at 51,165. If it maintains its b support levels of 50,600, 50,350, and 49,865, it could see a potential rise of up to 11.5%. Resistance levels are at 52,580, 53,230, 54,700, and 55,880.
Strong Position on Long-Term Charts
On long-term charts, Nifty Bank has found support near its 100-WMA (Weekly Moving Average) at 47,960. Furthermore, the 20-MMA (Monthly Moving Average) remains at 48,700, indicating long-term strength for Nifty Bank. Positive crossovers of the MACD and Stochastic Slow, along with the ADX indicators, also suggest an upward trend for the index.
