BankNifty Intraday Support & Resistance Levels for 02.12.2024

On Friday, BankNifty opened on a positive note, making a high of 52170.90 and a low of 51759.45, closing strong at 52055.60, up 148 points from the previous close. The Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways, indicating a lack of clear directional momentum.

For the past five days, BankNifty has held support at 51750. A break below this level could trigger selling pressure, potentially driving it to 51270 or lower.

Demand/Support Zones
Near Demand/Support Zone (30m): 51040.05 - 51271.50
Far Small Demand/Support Zone (15m): 50609.75 - 50824.55
Far Support: 49282.65 (61.8% FIBO Level)
Far Demand/Support Zone (Daily): 44633.85 - 45750.40

Supply/Resistance Zones
Near Supply/Resistance Zone (15m): 52675.65 - 52760.20
Far Supply/Resistance Zone (Daily): 52817.80 - 53235.25
Far Supply/Resistance Zone (Weekly): 53741.40 - 54467.35

Key Levels to Watch
Upside Breakout: Above 53235, expect a test of 53741 or higher.
Downside Support: A break below 51750 could lead to 51270 or lower.