Nifty Bank index shows mixed signals, cautious trading advised

The Nifty Bank index closed last week at 48,060.40, down 0.90%. It is currently trading within a range of 47,700 to 49,000, showing mixed signals and indecision in the market. Sumeet Bagadia from Choice Broking noted that the index faces resistance at 48,500 to 49,000. Private banks like HDFC and Kotak may support any upward movement, while public sector banks like SBI could also help. Bagadia highlighted key support levels at 48,000 and 47,500, with resistance at 48,500 and 49,000. He advised traders to be cautious and manage risks due to ongoing market volatility.