Nifty’s 5-day fall may be nearing a reversal; Anand James maps key levels for this week

Nifty's five consecutive sessions of decline has set up a potential mean reversion move, with the 20-week SMA at 23,741 offering nearby support. Bank Nifty is approaching a critical demand zone between 56,500 and 56,000 where a rising trendline from May lows remains intact, while HDFC Bank ended the week 9% lower following an earnings-triggered breakdown. India VIX rose about 4% on Friday but stayed below its early-July peak, and momentum indicators suggest selling pressure is cooling across banking heavyweights HDFC Bank, SBI, and Axis Bank.