Exhibiting a robust recovery from the 47500 support level, Bank Nifty showcases active bullish activity, rebounding from the 14-day moving average support at 47800. A closing above 48200 is crucial, as it could propel the index towards 48500 and 48800 levels. The immediate support for Bank Nifty stands at 47800, indicating a key level to monitor in the current market scenario.