Nifty Bank opened on a positive note and witnessed a mild recovery after recent sharp declines, indicating a technical pullback from lower levels. The index opened at 54,649.10, and moved higher to an intraday high of 54,996.00, while the low was recorded at 54,113.15. Finally, it closed at 54,876.00, gaining 0.85%. After a steep correction in prior sessions, the current price action reflects short-covering and selective buying at lower levels. However, the index continues to trade below its key short-term moving averages, indicating that the broader trend remains weak despite this bounce. Sustained buying above immediate resistance will be crucial for further recovery.
