Immediate support for Nifty Bank is placed around 57,200–57,000, followed by 56,700–56,500, while the 100 SMA near 55,960 remains an important medium-term support. On the upside, the 57,440–57,500 cluster of the 21-, 50-, and 200-SMAs represents immediate resistance, followed by 57,600–57,850 and the psychologically important 58,000 level. The near-term bias remains cautious with the index trading below the moving-average cluster.
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