Bank Nifty Surpasses 60,000 Ahead of ICICI and HDFC Bank Q3 Results

The Bank Nifty index surpassed the 60,000 mark on January 16, driven by gains in major banking stocks ahead of the Q3 earnings announcements from ICICI Bank and HDFC Bank. Federal Bank led the rally with a nearly 6% rise, while other banks like AU Small Finance, Yes Bank, and Punjab National Bank also saw notable gains. Analysts identified the 59,900-60,000 range as a key resistance zone, with support levels around 59,300-59,400, suggesting potential for short-term bullish momentum if the index sustains above these levels.