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01 Dec 2025
The 12-stock Bank Nifty experienced profit-booking on Monday and closed lower after recording three consecutive sessions of gains. The banking index witnessed losses after hitting a record high of 60,114, subsequently slipping 71 points to 59,681.
The BSE bankex also closed 78 points lower at 66,867, highlighting the bearish trend on the banking sector.
"Bank Nifty closed with a bearish candlestick in Monday’s session, signaling selling pressure at higher levels. A mild negative divergence in RSI indicates a cautious stance, with a possibility of profit-booking and short-term retracement in the index.
However, the medium-term outlook remains bullish as long as the index sustains above 58,500 levels. In the short term, the sentiment turns slightly bearish and traders should remain cautious. Key support levels are placed at 59,200 and 59,000, while resistance is seen around the 60,000 mark."
The profit-booking witnessed in Bank Nifty was in line with Sensex and Nifty, which closed lower in the current trading session. While Sensex slipped 64 points to 85,641, Nifty closed 27 points lower at 26,175.
"Technically, on the daily chart, the Bank Nifty has formed an Opening Marubozu (red candle) candlestick pattern, reflecting selling pressure at higher levels. As per this formation, as long as the Bank Nifty remains below 60,114, the upside is likely to remain capped in the short term.
On the downside, immediate support is placed near 59,400 followed by 59,000. Therefore, short-term traders are advised to adopt a buy-near-support and sell-near-resistance approach."
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