Nifty is currently trading above the 22,300 level after making its way up to 22,516 which is just 10 points lower from the all-time high, as the previous trading day was the last day of FY24, hence we saw a correction in nifty after almost touching the all-time high.

So for Monday, we think Nifty should open flat and test the support zone of 22,200 or 22,150 as Monday is the first day of the FY25 so we don’t expect any big moves.

Anyway, if you closely observe Nifty then you can see that, it is making a Cup and Handle type Pattern, which is a major Trend Continuation Pattern, so currently Nifty has already made a cup-type pattern, hence we expect Nifyt to fall a little bit to make the handle and complete the pattern, and then go higher for the next New High.

Nifty Bank is looking Strong, as the Banking Sector has underperformed in the last couple of months, so we may see a good Bullish move in Nifty this month.

Anyway, for Monday, we Think Nifty Bank will open a little higher around the 47,200 or 47,300 level as the Index is already at its strongest nearby support level of 47,000, hence we expect a good upside move in Bank Nifty to 47,500 or even higher levels.

Any downside will take Bank Nifty to its support level of 47,000 but breaching the support level on Monday does not seem happening.