Quote on Bank Nifty 05th October 2026 by Vatsal Bhuva, Technical Analyst at LKP Securities

2026-10-05 05:30:10 pm | Source: LKP Securities Ltd

Quote on Bank Nifty 05th October 2026 by Vatsal Bhuva, Technical Analyst at LKP Securities

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Below the Quote on Bank Nifty 05th October 2026 by Vatsal Bhuva, Technical Analyst at LKP Securities

"Volatility is visible in Bank Nifty ahead of the RBI interest rate policy scheduled for 7 October 2026, with heavyweight HDFC Bank dragging the index lower from its intraday high and continuing to weigh on sentiment. However, Axis Bank, ICICI Bank and select PSU banks provided some stability. Technically, the index is consolidating at lower levels below its crucial 20-DMA and 50-DMA, indicating weak sentiment, while RSI also reflects subdued momentum. Resistance is placed at 55,000–55,200, while immediate support lies at 54,300 and 54,000. A cautious stance is advisable ahead of the RBI policy."

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Quote on Bank Nifty 05th October 2026 by Vatsal Bhuva, Technical Analyst at LKP Securities

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