Nifty Bank opened marginally lower at 57,418.30, compared with the previous close of around 57,491, and remained largely range-bound throughout the session. The index opened at 57,418.30, touched an intraday high of 57,757.25, tested a low of 57,119.60, and eventually closed at 57,497.80, gaining 6.70 points or 0.01%. Buying interest emerged after the index tested its intraday low, helping it recover most of its losses and close nearly unchanged. Technically, the index consolidates around a crucial cluster of moving averages, with the 21-SMA (57,476), the 200-SMA (57,472), and the 50-SMA (57,396). The narrow consolidation and repeated rejection around 57,800–58,000 indicate indecision, suggesting that a decisive breakout from the prevailing range could determine the next directional move.
