Bse BANKEX Reclaims 66,700 With Bullish Momentum, Upside Eyeing 67,300 While 66,200 Remains Trend Safety Zone - 01.01.2026
Bse BANKEX Reclaims 66,700 With Bullish Momentum, Upside Eyeing 67,300 While 66,200 Remains Trend Safety Zone - 01.01.2026
Chart Name : S&P BSE BANKEX Index
Current Market Price : 66,759.93
Current Trend : Short-term trend has shifted bullish after sharp rebound and sustained hold above averages.
Trend Dominance : Bulls dominate momentum with strong recovery and RSI strength above neutral zone.
Chart Outlook & Prediction
* BANKEX has staged a rebound from sub-66,000 levels and is consolidating above 66,700. Holding above 66,200 keeps the structure bullish with upside potential toward 67,300–67,800. Any failure below 66,200 may trigger short-term profit booking, but overall structure remains positive.
Upcoming Events (Major Only)
* Banking system liquidity data – positive if liquidity stays comfortable
* US bond yield movement – negative if yields spike sharply
* FII positioning in financials – short-term volatility trigger
Major Support and Resistance
* Support: 66,200 / 65,850 / 64,900
* Resistance: 67,300 / 67,800 / 68,400
Trend, Volume, Dow Theory Analysis
* Price trades above moving averages, confirming bullish alignment. Recent up-move was supported by expanding volume, indicating institutional participation. Dow Theory shows higher lows intact with an attempt to form higher highs, signaling continuation bias rather than distribution.
Breakout Strategy (Bullish)
* Entry: Above 66,850 | Stoploss: 66,200
* Target 1: 67,300 | Target 2: 67,800 | Target 3: 68,400
Breakdown Strategy (Bearish)
* Entry: Below 66,150 | Stoploss: 66,750
* Target 1: 65,850 | Target 2: 65,400 | Target 3: 64,900
Final Takeaway
* S&P BSE BANKEX remains structurally bullish after reclaiming key averages. As long as price sustains above 66,200, dips are likely to attract buying interest. Fresh momentum emerges only above 67,300. Traders should stay disciplined near resistance and avoid aggressive longs at stretched levels.
Caution Notes
* All Positivity Negates on breaking below: 66,200
* All Negativity Negates on breaking above: 67,300
Disclaimer : This analysis is for educational purposes only and not financial advice. Please consult your financial advisor before making trading decisions.
