BANKNIFTY SEPTEMBER 2ND WEEK ANALYSIS.Nifty Bank IndexNSE:BANKNIFTYIshanMathur05Bank Nifty’s weekly closing at 57,369 shows that it has been consolidating in this range for the past 5 weeks. Last week, Bank Nifty formed a Doji candle on the weekly timeframe, which suggests that the period of consolidation might be over soon.If we analyse both the bull and bear case scenarios, things personally look favourable for the bulls. Anyway, let’s discuss both the bull and bear case scenarios: BULL CASE – If Bank Nifty is able to cross and sustain above 57,600–57,700, then we can expect the uptrend to continue up to 58,753. BEAR CASE – If Bank Nifty breaches the support range of 57,178–56,916, then we can expect further retracement up to 56,444–56,181. All levels are marked in the chart posted.