Bank Nifty Support and Resistance Zone (15/02/2024):

Feb 14, 2024

Bank Nifty Support and Resistance Zone (15/02/2024):

#### Support Zone:
1. **Support Level 1:** 45,350
- A crucial support level. If the market falls, 45,400 could act as the first support.

2. **Support Level 2:** 45,000
- Another significant support level. If breached, it could signal further downside movement.

#### Resistance Levels:
1. **Resistance Level 1:** 46,000
- A key resistance level. If the market opens below this level, it might act as support.

2. **Resistance Level 2:** 46,425
- Another resistance level in the upper side.

3. **Resistance Level 3:** 47,000
- A big resistance level. If the market breaks and sustains above 47,000, it could signal a potential upside movement.

### Technical Analysis Insights:

- **Support Zone:** 45,350 and 45,000 are crucial levels where buying interest might emerge, potentially leading to a reversal or temporary halt in the downward movement.

- **Resistance Zone:** 46,000, 46,425, and 47,000 are key levels where selling pressure might intensify, limiting immediate upward movements.

- **Downside Caution:** If the market falls, 45,000 is a significant support level to watch.

- **Upside Breakout Confirmation:** For a potential upside movement, Bank Nifty needs to break and sustain above 47,000. Confirmation above this level would strengthen the bullish case.