The BankNifty index experienced volatile moves, trading in a broad range with support at 52,700 and resistance at 53,100. The index needs to decisively sustain above 53,000 for a continued move towards the 53,400/53,700 mark. However, it is trading in overbought territory, and failure to sustain above 53,000 could lead to a correction towards the 52,500/52,000 levels.