BankNifty closed at the psychological level of 50,000 after testing the near-demand zone mentioned in the previous post. The weekly trend (50 SMA) is positive, while the daily trend is sideways.
Support Levels:
Near Support/Demand Zone (15m): 49,693 - 49,778
Far Small Support/Demand Zone (15m): 49,225 - 49,451
Far Support Zone (15m): 48,801 - 49,055 (tested multiple times)
Resistance Levels:
Major Resistance/Supply Zone (Daily): 50,092 - 51,133.20
Support Levels:
Near Support/Demand Zone (15m): 49,693 - 49,778
Far Small Support/Demand Zone (15m): 49,225 - 49,451
Far Support Zone (15m): 48,801 - 49,055 (tested multiple times)
Resistance Levels:
Major Resistance/Supply Zone (Daily): 50,092 - 51,133.20
