The Nifty Bank index experienced a significant recovery, gaining over 300 points from its day's low to surpass 59,000, following a four-day losing streak. Axis Bank and Canara Bank were among the top gainers. Analysts suggest the index may consolidate within the 58,500-60,100 range, with support at 58,300-58,600 and resistance around 59,150-59,250. A decisive move above 59,500 could signal further upside.