BankNifty Intraday Support & Resistance Levels for 01.01.2025
On Tuesday, BankNifty opened gap-down, reaching a low of 50,599.80 and a high of 50,945.55. It traded within a narrow range throughout the session and closed at 50,860.20, losing 92 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative.
Demand/Support Zones
Near Demand/Support Zone (Daily): 49,787.10 - 50,983.50 (current price within the zone)
Far Support Level: 49,282.64 (61.8% FIBO retracement)
Supply/Resistance Zones
Near Supply/Resistance Zone (15m): 51,767.65 - 51,937.05
Near Supply/Resistance Zone (125m): 52,010.65 - 52,368.30
Far Supply/Resistance Zone (125m): 52,709.40 - 52,911.10
Far Supply/Resistance Zone (Weekly): 53,741.40 - 54,467.35 (tested)
Outlook
BankNifty continues to stay under selling pressure, with the current price hovering within the daily demand zone. A decisive break below 49,787 could signal further downside.
✨ Wishing everyone a Happy and Prosperous New Year 2025! ✨
Demand/Support Zones
Near Demand/Support Zone (Daily): 49,787.10 - 50,983.50 (current price within the zone)
Far Support Level: 49,282.64 (61.8% FIBO retracement)
Supply/Resistance Zones
Near Supply/Resistance Zone (15m): 51,767.65 - 51,937.05
Near Supply/Resistance Zone (125m): 52,010.65 - 52,368.30
Far Supply/Resistance Zone (125m): 52,709.40 - 52,911.10
Far Supply/Resistance Zone (Weekly): 53,741.40 - 54,467.35 (tested)
Outlook
BankNifty continues to stay under selling pressure, with the current price hovering within the daily demand zone. A decisive break below 49,787 could signal further downside.
✨ Wishing everyone a Happy and Prosperous New Year 2025! ✨
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