On Monday, BankNifty opened with a gap down, breached the 30m Demand zone, and closed at 49831.85, losing 746 points. After yesterday's decline, the weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) has turned negative.
Support Levels:
Major Demand/Support Zone (Weekly): 49530 - 50253 (currently inside the zone)
Far Support: 48858 level (61.8% FIBO Retracement level)
Resistance Levels:
Near Supply/Resistance Zone (15m): 50222 - 50268
Far Supply/Resistance Zone (15m): 51325 - 51400 (inside the 125m Supply Zone)
Far Resistance Level: 51750
Far Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609
Support Levels:
Major Demand/Support Zone (Weekly): 49530 - 50253 (currently inside the zone)
Far Support: 48858 level (61.8% FIBO Retracement level)
Resistance Levels:
Near Supply/Resistance Zone (15m): 50222 - 50268
Far Supply/Resistance Zone (15m): 51325 - 51400 (inside the 125m Supply Zone)
Far Resistance Level: 51750
Far Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609
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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.