The Bank Nifty index experienced a decline, falling below 59,000 on December 29, with major bank stocks like IndusInd, ICICI, and HDFC Bank seeing losses. This marks the fourth consecutive session of decline for the index. Analysts note the index is in a consolidation phase, facing resistance near 59,600 and support around 58,600. Key levels for potential trend reversals and further movement are being closely watched by market observers.