*BANKNIFTY INDEX | Cmp -55618| Targets 57000/58300/60000* - 29.05.2025 *SPECIAL REPORT : BANKNIFTY INDEX | 4 to 6 Weeks )* *Bank Nifty Eyes 60,000: Riding the Bullish Momentum with Volume Confirmation* *Stock Exchange**: NSE *Stock Name**: Bank Nifty Index *CMP (Current Market Price)**: 55,618.75 *Current Trend Summary**: Strong bullish continuation with higher highs and higher lows *Trading Zone Summary**: Positioned above all major moving averages – strong support from 50 & 200 MA *Trade Suitability**: Buy – Strong uptrend, confirmed by price and indicators *Required Volume**: Satisfied – consistent and gradually increasing *How Traders Can Approach?**: Wait for minor pullback to 54,800–55,000 for entry; trail SL for positional trades *Target Estimated**: 60,000 *Time Frame to Achieve Target**: 4 to 6 weeks *Chart Outlook & Prediction* * Bank Nifty has broken above consolidation and is trading above all key moving averages with strong price structure. The Bollinger Bands are widening, RSI is trending upward, and MACD has a fresh bullish crossover. This points to a potential sustained rally toward 60,000 in the coming weeks unless macro or sector risks emerge. *Fundamental Catalyst* * Continued growth in credit offtake, robust Q4 banking results, falling NPAs, and the RBI’s stable policy have provided fundamental support. Large-cap private banks are leading the charge, supported by high FII flows and strong earnings visibility. Improved macroeconomic sentiment is acting as a tailwind. *Support and Resistance Levels* * Support: 54,800 / 53,300 | Resistance: 56,900 / 58,300 / 60,000 *Breakout Strategy (Bullish)* * Entry: Above 55,500 (current level confirmed) | Stoploss: 54,400 * Target 1: 57,000 | Target 2: 58,300 | Target 3: 60,000 *Breakdown Strategy (Bearish)* Entry: Below 53,200 | Stoploss: 54,000 Target 1: 52,000 | Target 2: 50,800 | Target 3: 48,800 *Caution Note – All Positivity Negates Below*: 53,200 *Caution Note – All Negativity Negates Above*: 55,500 *Overall Conclusion*: Good for trade * Justification: Bullish momentum with volume support, RSI above 60, MACD bullish crossover, and breakout from price consolidation confirm continuation. Avoid only if it closes below 53,200 on weekly basis. *Final Conclusion – How Traders Can Approach* * Buy on dips between 54,800–55,200 with SL below 53,200. Trail stop as the price moves up. Use partial booking near 58,000 and hold for 60,000 with extended view. Favor positional trades with momentum alignment. *Trading Strategy* * We recommend entering the trade strictly in the range of 54,800 to 55,500. Avoid fresh longs above 56,800 without a dip. This ensures favorable risk/reward and disciplined entry. *Disclaimer: This is a technical opinion and not financial advice. Consult your financial advisor before investing.*