BANKNIFTY WILL HISTORY REPEAT..!
Based on several 50% retracement levels that have continuously served as crucial support zones throughout various market cycles since 2018, the Nifty Bank Index weekly chart offers an intriguing analysis of market structure. Overall the move from the 2020 COVID low around 17,500 has been a powerful and well organized uptrend forming what looks like a clear rising channel evidenced by the trendline originating from the 2020 bottom. Every rally since has produced higher highs and higher lows on the weekly time frame, which is quite literally the textbook definition of a healthy bull market. The index made a lifetime high of around 62,500 in early 2026 before the current sharp correction commenced. The 50% Retracement Levels — A Repeating Theme What makes this chart particularly interesting is the consistent respect for 50% retracement levels at every major swing. The chart distinctly denotes four such levels (38,221), 42,461), 48,085 and 54,733) each a midway point for previ...