On Monday, BankNifty entered the 75m and daily demand zones, bouncing 500 points from the day's low before closing at 52880.40. A decisive crossover above 52750 with volume might lead to a new all-time high. The weekly and daily trends (50 SMA) are still positive. As mentioned in the last post, the support and resistance levels remain the same.
Support Levels:
Near support/demand zone (75m) for weekly trade: 51749 - 51966
Major support/demand zone (Daily): 51138 - 51934
Resistance Levels:
Near small supply/resistance zone (15m): 52482 - 52563
Far supply/resistance zone (30m): 53064 - 53188
Support Levels:
Near support/demand zone (75m) for weekly trade: 51749 - 51966
Major support/demand zone (Daily): 51138 - 51934
Resistance Levels:
Near small supply/resistance zone (15m): 52482 - 52563
Far supply/resistance zone (30m): 53064 - 53188
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.