On Tuesday, BankNifty opened with a gap-up at 52555.50, which was also the day's high, breaking above the supply zone. However, it couldn’t sustain the momentum and dropped to a low of 51999.75, closing at 52191.50, down by 16 points from the previous close.
The Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways. The Demand & Supply Zones are unchanged from the prior analysis.
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 (Daily): 51294.20 - 52493.95 (current price within this zone) Far Supply/Resistance Zone (Daily): 52817.80 - 53235.25 Far Supply/Resistance Zone (Weekly): 53741.40 - 54467.35
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