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Bankniftyintradaytradesetup

BankNifty Intraday Support & Resistance Levels for 25.10.2024On Thursday, BankNifty opened on a positive note, hit a low of 51,201.85 and climbed to a high of 51,781.55 before closing at 51,531.15, gaining 292 points from the previous close. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is sideways. BankNifty Demand/Support Zones: Near Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support: 49,282.65 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 BankNifty Supply/Resistance Zones: Far Supply/Resistance Zone (5m): 52,143.55 - 52,257.30 Near Supply/Resistance Zone (Daily): 51,855.15 - 52,577.50 Far Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (75m): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75m): 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 24.10.2024On Wednesday, BankNifty opened with a 139-point gap down, making a low of 51,107.90. It bounced back, reaching a high of 51,551.55 (almost hitting the 15m Supply Zone) but couldn't sustain and closed at 51,239, losing 18 points from the previous close. BankNifty has closed inside the 125m Demand Zone for the second consecutive day. If the 51,000 level holds, we may see a bounce. However, if BankNifty breaks below 51,000 with volume and sustains, further downside till 49,959 or lower is possible. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is sideways. BankNifty Demand/Support Zones for 24.10.2024: Near Demand/Support Zone (125m): 51,000.90 - 51,355.80 (current price inside the zone) Near Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far Support: 49,282.65 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 BankNifty Supply/Resistance Zones for 24.10.2024: Near Supply/Resistance Zone (15m): 51,559.35 - 51,678.85 Far Supply/Resistance Zone (5m): 52,143.55 - 52,257.30 Near Supply/Resistance Zone (Daily): 51,855.15 - 52,577.50 Far Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (75m): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75m): 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 23.10.2024On Tuesday, BankNifty opened 108 points higher, hit a high of 52,257.30, and then dropped over 1,050 points, reaching a low of 51,179.60. It closed at 51,257.15, losing 705 points from the previous session. BankNifty is currently within the 125m Demand Zone mentioned in the previous post. If the crucial 51,000 level holds, we might see a bounce back from this demand zone. However, if BankNifty breaks below 51,000 with strong volume and sustains, further downside to 49,959 or lower is likely. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is sideways. BankNifty Demand/Support Zones for 23.10.2024: Near Demand/Support Zone (125m): 51,000.90 - 51,355.80 (current price inside this zone) Near Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far Support: 49,282.65 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 BankNifty Supply/Resistance Zones for 23.10.2024: Near Supply/Resistance Zone (15m): 51,559.35 - 51,678.85 Far Supply/Resistance Zone (5m): 52,143.55 - 52,257.30 Near Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (75m): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75m): 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 22.10.2024On Monday, BankNifty opened with a gap up, hit the 15-minute Supply Zone mentioned in the previous post, and made a high of 52,577.50. However, it faced strong resistance, falling over 700 points to a low of 51,855.15 before closing at 51,962.70, down 131 points from the previous close. If BankNifty breaks below the 51,000 level with volume and sustains, we could see a further drop toward 49,959 or lower. The Weekly Trend (50 SMA) is positive, while the Daily Trend (50 SMA) remains sideways. BankNifty Demand/Support Zones for 22.10.2024: Near Demand/Support Zone (125m): 51,000.90 - 51,355.80 Near Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far Support: 49,282.65 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 BankNifty Supply/Resistance Zones for 22.10.2024: Near Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (75m): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75m): 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY: INSTITUTIONAL LEVELS FOR 22/10/2024QUICK GUIDE - Use 5 minute timeframe - Try to take enters at retest - Use multiple confirmation - Read full description before investing - Try to take ATM options or above Explanation: This is a very useful trading system. This means that you should not take a trade blindly, but rather that there is another confirmation to take the trade you can use this for perfect entry and perfect exit This trading opportunity is based on volume, previous price, and price range , are included Entry/Exit point's: - It has very easy entry and exit points - In this pair of lines with two colors are given (RED AND BLUE) - In this the blue line is used to take long entry and the red line is used to take short entry (But it is all based on a more conformation from your trading plan) Stop Loss/Take Profit: Stop Loss - According to this, if you take a long trade, its stop loss will be the red line just below ( A trade can exit either when the price crosses the red line or the 5 minute candlestick crosses the red line. (This can be done according to your preference) ) - A short entry should use the opposite rules to a long entry Take Profit -When you take a long entry according to the profit to be booked is on the next red line above. ( Or if there are other reasons, it can be a safe exit ) - Opposite rules for booking profit on long entry are to book profit on short trade. ( The blue line above is the stop loss of short entry ) Timeframe: According to this, the time frame you should use while taking trades is 5 minutes time frames . (5 minute time frame works well in this) Risk Disclaimer: Trading carries significant risk and is not suitable for all traders. You may lose some or all of your capital in a matter of minutes or hours. Market conditions can change rapidly, and prices can move against you quickly. You may not always be able to exit at a favorable price, and you may be required to hold a position overnight, exposing yourself to additional risk. Day trading involves high risk, high leverage, and high stakes, and you should only trade with funds you can afford to lose. Please carefully consider your financial situation, risk tolerance, and trading objectives before engaging in day trading. Engagement: Share your insights, ask questions, and learn from others in the community. Whether you're a seasoned pro or just starting out, we're all in this together. What's your take on the current market conditions? Which trading strategies are working for you? Let's discuss and help each other grow as traders! Comment below and let's get the conversation started! Original Content: This trading setup is the result of my own innovation and expertise, and is not based on any publicly available information or third-party systems. It is a reflection of my dedication to developing a competitive edge in the markets.
NSE:BANKNIFTY
by tony_fx_sm
BankNifty Intraday Support & Resistance Levels for 21.10.2024On Friday, BankNifty opened with a gap down, hitting a low of 51,000.90, and then staged an impressive comeback, bouncing nearly 1,200 points to a high of 52,199.45. It closed at 52,094.20, gaining 805 points from the previous close. If BankNifty breaks below 51,000 with volume and sustains, further downside could extend to 49,959 or below. The Weekly Trend (50 SMA) remains positive, and the Daily Trend (50 SMA) is sideways. BankNifty Demand/Support Zones for 21.10.2024: Near Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far Support: 49,282.65 (61.8% FIBO Level) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 BankNifty Supply/Resistance Zones for 21.10.2024: Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35 Far Supply/Resistance Zone (15m): 52,417.40 - 52,562.70 Near Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (75m): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75m): 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY: INSTITUTIONAL LEVELS FOR 18/10/2024QUICK GUIDE - Use 5 minute timeframe - Try to take enters at retest - Use multiple confirmation - Read full description before investing - Try to take ATM options or above Explanation: This is a very useful trading system. This means that you should not take a trade blindly, but rather that there is another confirmation to take the trade you can use this for perfect entry and perfect exit This trading opportunity is based on volume, previous price, and price range , are included Entry/Exit point's: - It has very easy entry and exit points - In this pair of lines with two colors are given (RED AND BLUE) - In this the blue line is used to take long entry and the red line is used to take short entry (But it is all based on a more conformation from your trading plan) Stop Loss/Take Profit: Stop Loss - According to this, if you take a long trade, its stop loss will be the red line just below ( A trade can exit either when the price crosses the red line or the 5 minute candlestick crosses the red line. (This can be done according to your preference) ) - A short entry should use the opposite rules to a long entry Take Profit -When you take a long entry according to the profit to be booked is on the next red line above. ( Or if there are other reasons, it can be a safe exit ) - Opposite rules for booking profit on long entry are to book profit on short trade. ( The blue line above is the stop loss of short entry ) Timeframe: According to this, the time frame you should use while taking trades is 5 minutes time frames . (5 minute time frame works well in this) Risk Disclaimer: Trading carries significant risk and is not suitable for all traders. You may lose some or all of your capital in a matter of minutes or hours. Market conditions can change rapidly, and prices can move against you quickly. You may not always be able to exit at a favorable price, and you may be required to hold a position overnight, exposing yourself to additional risk. Day trading involves high risk, high leverage, and high stakes, and you should only trade with funds you can afford to lose. Please carefully consider your financial situation, risk tolerance, and trading objectives before engaging in day trading. Engagement: Share your insights, ask questions, and learn from others in the community. Whether you're a seasoned pro or just starting out, we're all in this together. What's your take on the current market conditions? Which trading strategies are working for you? Let's discuss and help each other grow as traders! Comment below and let's get the conversation started! Original Content: This trading setup is the result of my own innovation and expertise, and is not based on any publicly available information or third-party systems. It is a reflection of my dedication to developing a competitive edge in the markets.
NSE:BANKNIFTY
by tony_fx_sm
BankNifty Intraday Support & Resistance Levels for 18.10.2024On Thursday, BankNifty opened with a gap up, hit a high of 51,930.20, and then dropped over 750 points to a low of 51,150.25. It closed at 51,288.80, losing 512 points from the previous close. Despite entering the 125m Demand Zone (51,005.85 - 51,246.50) mentioned earlier, the Daily trend remains bearish. If BankNifty breaks below the 51,000 level with volume and sustains, a further drop toward 49,959 or lower could be on the horizon. The Weekly Trend (50 SMA) is still positive, but the Daily Trend (50 SMA) is negative. BankNifty Demand/Support Zones for 18.10.2024: Near Demand/Support Zone (125m): 51,005.85 - 51,246.50 (Tested on Thursday) Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support: 49,282.65 (61.8% FIBO Level) BankNifty Supply/Resistance Zones for 18.10.2024: Near Supply/Resistance Zone (125m): 51,767.30 - 52,031.60 Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35 Far Supply/Resistance Zone (15m): 52,417.40 - 52,562.70 Near Supply/Resistance Zone (Daily): 52,817.80 - 53,235.
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 17.10.2024On Wednesday, BankNifty opened with a gap down, marking an Open=Low at 51,711.20, and reached a high of 52,031.60. It closed at 51,801.05, losing 105 points from the previous close. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is negative. Demand and support zones remain unchanged. BankNifty Demand/Support Zones for 17.10.2024: Near Demand/Support Zone (125m): 51,005.85 - 51,246.50 Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support: 49,282.65 (61.8% FIBO Level) BankNifty Supply/Resistance Zones for 17.10.2024: Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35 Far Supply/Resistance Zone (15m): 52,417.40 - 52,562.70 Near Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (75m): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75m): 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY: INSTITUTIONAL LEVELS FOR 17/10/2024QUICK GUIDE - Use 5 minute timeframe - Try to take enters at retest - Use multiple confirmation - Read full description before investing - Try to take ATM options or above Explanation: This is a very useful trading system. This means that you should not take a trade blindly, but rather that there is another confirmation to take the trade you can use this for perfect entry and perfect exit This trading opportunity is based on volume, previous price, and price range , are included Entry/Exit point's: - It has very easy entry and exit points - In this pair of lines with two colors are given (RED AND BLUE) - In this the blue line is used to take long entry and the red line is used to take short entry (But it is all based on a more conformation from your trading plan) Stop Loss/Take Profit: Stop Loss - According to this, if you take a long trade, its stop loss will be the red line just below ( A trade can exit either when the price crosses the red line or the 5 minute candlestick crosses the red line. (This can be done according to your preference) ) - A short entry should use the opposite rules to a long entry Take Profit -When you take a long entry according to the profit to be booked is on the next red line above. ( Or if there are other reasons, it can be a safe exit ) - Opposite rules for booking profit on long entry are to book profit on short trade. ( The blue line above is the stop loss of short entry ) Timeframe: According to this, the time frame you should use while taking trades is 5 minutes time frames . (5 minute time frame works well in this) Risk Disclaimer: Trading carries significant risk and is not suitable for all traders. You may lose some or all of your capital in a matter of minutes or hours. Market conditions can change rapidly, and prices can move against you quickly. You may not always be able to exit at a favorable price, and you may be required to hold a position overnight, exposing yourself to additional risk. Day trading involves high risk, high leverage, and high stakes, and you should only trade with funds you can afford to lose. Please carefully consider your financial situation, risk tolerance, and trading objectives before engaging in day trading. Engagement: Share your insights, ask questions, and learn from others in the community. Whether you're a seasoned pro or just starting out, we're all in this together. What's your take on the current market conditions? Which trading strategies are working for you? Let's discuss and help each other grow as traders! Comment below and let's get the conversation started! Original Content: This trading setup is the result of my own innovation and expertise, and is not based on any publicly available information or third-party systems. It is a reflection of my dedication to developing a competitive edge in the markets.
NSE:BANKNIFTY
by tony_fx_sm
2
BankNifty Intraday Support & Resistance Levels for 16.10.2024On Tuesday, BankNifty opened with a gap up, reaching a high of 52,022.05 and a low of 51,698.75 in a slightly volatile session. It closed at 51,906, gaining 89 points from the previous close. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) continues to be negative. BankNifty Demand/Support Zones for 16.10.2024: Near Demand/Support Zone (125m): 51,005.85 - 51,246.50 Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support at 49,282.65 (61.8% FIBO Level) BankNifty Supply/Resistance Zones for 16.10.2024: Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35 Far Supply/Resistance Zone (15m): 52,417.40 - 52,562.70 Near Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (75m): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75m): 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 15.10.2024On Monday, BankNifty opened with a gap up, surged through the 15-minute supply zone, and hit a high of 51,893. It closed strong at 51,816.90, gaining 644 points from the previous close. BankNifty is now showing signs of a retracement move as it exited the Daily Demand Zone and reached a six-day high. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is negative. BankNifty Demand/Support Zones for 15.10.2024: Near Demand/Support Zone (Daily): 50,369.40 - 51,420.15 (tested) Near Demand/Support Zone (125m): 51,005.85 - 51,246.50 Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support at 49,282.65 (61.8% FIBO Level) BankNifty Supply/Resistance Zones for 15.10.2024: Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35 Far Supply/Resistance Zone (15m): 52,417.40 - 52,562.70 Near Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (75m): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75m): 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 14.10.2024On Friday, BankNifty opened flat to negative, attempting to hold above 51,420 but couldn't sustain. After making a day high of 51,560, it dropped to 51,005.85 and finally closed at 51,172.30, down by 390 points from the previous close. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) has turned negative. Demand/Support Zones: Near Demand/Support Zone (Daily): 50,369.40 - 51,420.15 (current price inside the zone) Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support: 49,282.65 (61.8% FIBO Level) Supply/Resistance Zones: Near minor supply/resistance zone (15m): 51,445.80 - 51,541.90 Near minor supply/resistance zone (15m): 51,590.60 - 51,659.45 Far supply/resistance zone (15m): 52,254.70 - 52,358.35 Near supply/resistance zone (Daily): 52,817.80 - 53,235.25 Far supply/resistance zone (75m): 53,763.20 - 53,945.10 Far supply/resistance zone (75m): 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY: INSTITUTIONAL LEVELS FOR 11/10/2024QUICK GUIDE - Use 5 minute timeframe - Try to take enters at retest - Use multiple confirmation - Read full description before investing - Try to take ATM options or above Explanation: This is a very useful trading system. This means that you should not take a trade blindly, but rather that there is another confirmation to take the trade you can use this for perfect entry and perfect exit This trading opportunity is based on volume, previous price, and price range , are included Entry/Exit point's: - It has very easy entry and exit points - In this pair of lines with two colors are given (RED AND BLUE) - In this the blue line is used to take long entry and the red line is used to take short entry (But it is all based on a more conformation from your trading plan) Stop Loss/Take Profit: Stop Loss - According to this, if you take a long trade, its stop loss will be the red line just below ( A trade can exit either when the price crosses the red line or the 5 minute candlestick crosses the red line. (This can be done according to your preference) ) - A short entry should use the opposite rules to a long entry Take Profit -When you take a long entry according to the profit to be booked is on the next red line above. ( Or if there are other reasons, it can be a safe exit ) - Opposite rules for booking profit on long entry are to book profit on short trade. ( The blue line above is the stop loss of short entry ) Timeframe: According to this, the time frame you should use while taking trades is 5 minutes time frames . (5 minute time frame works well in this) Risk Disclaimer: Trading carries significant risk and is not suitable for all traders. You may lose some or all of your capital in a matter of minutes or hours. Market conditions can change rapidly, and prices can move against you quickly. You may not always be able to exit at a favorable price, and you may be required to hold a position overnight, exposing yourself to additional risk. Day trading involves high risk, high leverage, and high stakes, and you should only trade with funds you can afford to lose. Please carefully consider your financial situation, risk tolerance, and trading objectives before engaging in day trading. Engagement: Share your insights, ask questions, and learn from others in the community. Whether you're a seasoned pro or just starting out, we're all in this together. What's your take on the current market conditions? Which trading strategies are working for you? Let's discuss and help each other grow as traders! Comment below and let's get the conversation started! Original Content: This trading setup is the result of my own innovation and expertise, and is not based on any publicly available information or third-party systems. It is a reflection of my dedication to developing a competitive edge in the markets.
NSE:BANKNIFTY
by tony_fx_sm
BankNifty Intraday Support & Resistance Levels for 11.10.2024On Thursday, BankNifty opened with a gap up and surged to a high of 51,659.45, closing at 51,530.90, gaining 524 points over the previous close. BankNifty has exited the Daily Demand Zone and closed above 51,420. If it can sustain this level, we may see the rally continue towards 52,254 or even 52,817. The Weekly Trend (50 SMA) is sideways, while the Daily Trend (50 SMA) remains negative. The demand and supply zones remain unchanged from the previous post. Demand/Support Zones: Near Demand/Support Zone (Daily): 50,369.40 - 51,420.15 (current price inside the zone) Near Demand/Support Zone (15m): 51,086.85 - 51,207.85 Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support at 49,282.65 (61.8% FIBO Level) Supply/Resistance Zones: Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35 Near Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (75m): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75m): 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 10.10.2024On Wednesday, BankNifty opened gap up, briefly crossed the Daily Demand Zone (above 51,420.15) and touched a high of 51,707.15. However, the gains couldn't hold, and it dropped sharply to 50,903.75, closing at 51,007, losing 14 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) continues to be negative. The demand and supply zones remain unchanged from the previous post. Demand/Support Zones: Near Demand/Support Zone (Daily): 50,369.40 - 51,420.15 (current price inside the zone) Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support: 49,282.65 (61.8% FIBO Level) Supply/Resistance Zones: Near supply/resistance zone (15m): 52,254.70 - 52,358.35 Near supply/resistance zone (Daily): 52,817.80 - 53,235.25 Far supply/resistance zone (75m): 53,763.20 - 53,945.10 Far supply/resistance zone (75m): 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 09.10.2024On Tuesday, BankNifty opened gap up and finally showed some bullish momentum after six days of downtrend, reaching a high of 51,176.05. It closed at 51,021, gaining 542 points from the previous close. The Weekly Trend (50 SMA) is sideways, while the Daily Trend (50 SMA) remains negative. Though BankNifty broke the daily demand zone (below 50,369.40) on Monday, it managed to close inside the zone for the second consecutive day. On the downside, 50,369 is a crucial level for support. If BankNifty crosses 51,420 and sustains above, we could see a rally towards 52,254 and beyond. Demand/Support Zones: Near Demand/Support Zone (Daily): 50,369.40 - 51,420.15 (current price inside the zone) Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support: 49,282.65 (61.8% FIBO Level) Supply/Resistance Zones: Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35 Near Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (75m): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75m): 54,152.50 - 54,338.70 Keep an eye on 51,420 for a potential breakout to push BankNifty higher!
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 08.10.2024On Monday, BankNifty opened with a gap up, reaching a high of 51,784.80, but couldn't hold its gains and dropped 1,590 points from the peak, hitting a low of 50,194.30. It finally closed at 50,478.90, down by 983 points from the previous session. The Weekly Trend (50 SMA) has shifted to sideways from positive, while the Daily Trend (50 SMA) has turned negative. BankNifty briefly broke the key daily demand zone (below 50,369.40), but managed to close within it. If it breaks and sustains below 50,369.40, we could see a further decline towards 49,959 and possibly lower. Demand/Support Zones: Near Demand/Support Zone (Daily): 50,369.40 - 51,420.15 (current price inside the zone) Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support: 49,282.65 (61.8% Fibonacci level) Supply/Resistance Zones: Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35 Near Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (75m): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75m): 54,152.50 - 54,338.70 Keep a close watch for key levels today, as a break below the demand zone could trigger further downside.
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 07.10.2024On Friday, BankNifty opened gap down but quickly recovered, reaching a high of 52,358.35, entering the 15-minute Supply Zone highlighted in the previous post. However, it faced strong selling pressure at that level and plunged 1,000 points from the day’s high, hitting a low of 51,347.25. BankNifty broke through the near Daily Demand Zone and entered the Far Daily Demand Zone, closing at 51,462.05, down 383 points from the previous session. The Weekly Trend (50 SMA) remains positive, but the Daily Trend (50 SMA) has turned sideways. As BankNifty approaches the support/demand zone (50,369.40 - 51,420.15), a potential bounce could take it back up towards 52,817, near the Daily Supply Zone. Demand/Support Zones: Near Demand/Support Zone (Daily): 50,369.40 - 51,420.15 (current price near the zone) Near Demand/Support Zone (75m): 51,025 - 51,222.65 Far Demand/Support Zone (75m): 50,564.65 - 50,891.65 Supply/Resistance Zones: Near Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25 Far Supply/Resistance Zone (75m): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75m): 54,152.50 - 54,338.70 Keep these levels in mind for potential trading opportunities!
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 04.10.2024On Thursday, BankNifty opened gap down and faced intense selling pressure, diving deep into the daily demand zone. It hit a low of 51,683.40 before closing at 51,845.20, losing a significant 1,077 points from the previous close. While the Weekly Trend (50 SMA) remains positive, the Daily Trend (50 SMA) has shifted to sideways, indicating a potential change in momentum. Demand/Support Zones: Near Demand/Support Zone (Daily): 51,643.95 - 52,484.60 (current price inside the zone) Far Demand/Support Zone (Daily): 50,369.40 - 51,420.15 Supply/Resistance Zones: Near Minor Supply/Resistance Zone (30 min): 52,139.20 - 52,224.25 Near Supply/Resistance Zone (15 min): 52,282.55 - 52,392.25 Far Supply/Resistance Zone (30 min): 52,862.00 - 52,993.95 Near Supply/Resistance Zone (75 min): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75 min): 54,152.50 - 54,338.70 Stay alert as the market could experience heightened volatility in the coming sessions!
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 03.10.2024On Tuesday, BankNifty opened gap down, bounced to a high of 53,235.25, and fell to a low of 52,817.80 before closing at 52,922.60, losing 55 points from the previous close. It broke the 125m Demand zone (52,847.90 - 53,136.10) mentioned in the last post, but managed to close inside the zone. As highlighted earlier, if BankNifty breaks below 52,847 with volume and sustains, further declines towards 52,285 could be expected. The Weekly and Daily Trends (50 SMA) remain positive. The demand and supply zones remain unchanged. Demand/Support Zones: Near Demand/Support Zone (125 min): 52,847.90 - 53,136.10 (current price inside the zone) Far Demand/Support Zone (Daily): 51,643.95 - 52,484.60 Far Demand/Support Zone (Daily): 50,369.40 - 51,420.15 Supply/Resistance Zones: Near Supply/Resistance Zone (75 min): 53,763.20 - 53,945.10 Far Supply/Resistance Zone (75 min): 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPalan
Banknifty analysis for weekly expiry 01/10/2024.Banknifty weekly expiry can be seen taking market towards another round number figure of 52500 levels. There was a good bearish movement on the daily charts, market closed 850 points lower. Chance of a follow through can be seen as both the index are moving in tandem. Watch banknifty breaching 52780 levels as there will be double support break down. Major levels to look for tomorrow :- 53060, 52780, 52625 Wait for the price action near the levels before entering the markets.
NSE:BANKNIFTY
by TheMamboMomentum
BankNifty Intraday Support & Resistance Levels for 30.09.2024On Friday, BankNifty opened 36 points lower and failed to recover, dropping over 600 points due to selling pressure in banking stocks. It closed at 52,834.30, losing 541 points from the previous close. Both the Weekly and Daily Trends (50 SMA) remain positive. On the weekly chart, BankNifty formed a gravestone doji, which could indicate a potential trend reversal from recent highs. Demand/Support Zones: Near Demand/Support Zone (30 min): 53,225.20 - 53,521.25 Near Demand/Support Zone (125 min) for weekly trade: 52,847.90 - 53,136.10 Far Demand/Support Zone (30 min): 52,403.80 - 52,484.55 Far Demand/Support Zone (Daily): 52,085.50 - 52,284.60 Supply/Resistance Zones: Near Supply/Resistance Zone (75 min) for weekly trade: 54,152.50 - 54,338.70
NSE:BANKNIFTY
by PriteshPalan