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BankNifty Intraday Support & Resistance Levels for 02.01.2025On Wednesday, BankNifty opened flat to negative, dipping to a low of 50,485.05 before finding strong bullish support and rallying to a high of 51,321.95. It closed at 51,060.60, gaining 200 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) continues to be negative. Demand/Support Zones Near Demand/Support Zone (15m): 50,800.50 - 50,890 Near Demand/Support Zone (15m): 50,485.05 - 50,629.65 Near Demand/Support Zone (Daily): 49,787.10 - 50,983.50 (tested) 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)
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 01.01.2025On 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! ✨
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 31.12.2024On Monday, BankNifty opened on a negative note but found support near 51,170, rallying to a day high of 51,979.75, falling just 30 points short of entering the 125-minute supply zone. However, strong selling pressure caused a sharp drop of over 1,200 points to the day's low of 50,718.35, entering the 15-minute demand zone, which aligns with the tested daily demand zone. It closed at 50,952.75, losing 358 points compared to the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) continues to be negative. Demand/Support Zones Near Demand/Support Zone (Daily): 49,787.10 - 50,983.50 (tested) 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's rejection near the supply zone underscores the dominance of selling pressure. The tested demand zone at 50,983.50 offers strong support, but a failure to sustain here could lead to further downside.
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 30.12.2024On Friday, BankNifty opened gap-up, touched a high of 51,628.45, and dropped to a low of 51,240.10 before recovering slightly to close at 51,311.30, gaining 140 points over the previous close. The Weekly Trend (50 SMA) continues to remain sideways, while the Daily Trend (50 SMA) is negative. Demand/Support Zones Near Demand/Support Zone (15m): 50,688 - 50,909 Near Demand/Support Zone (Daily): 49,787.10 - 50,983.50 (tested) Far Support Level: 49,282.64 (61.8% FIBO retracement) Supply/Resistance Zones 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’s move within a narrow range highlights a tug-of-war between buyers and sellers. If it manages to break above the 125m resistance zone of 52,010.65 - 52,368.30, we might see further bullish momentum. On the downside, the demand zone at 50,688 - 50,909 will play a critical role in providing support.
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 27.12.2024On Thursday, BankNifty opened gap-up, climbing to a high of 51,740 before facing resistance and dipping to a low of 50,951.80. It closed the session at 51,170.70, losing 62 points over the previous close. While the Weekly Trend (50 SMA) remains sideways, the Daily Trend (50 SMA) continues to be negative. Demand/Support Zones Near Demand/Support Zone (15m): 50,688 - 50,909 Near Demand/Support Zone (Daily): 49,787.10 - 50,983.50 (tested) Far Support Level: 49,282.64 (61.8% FIBO retracement) Supply/Resistance Zones 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)
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 26.12.2024On Tuesday, BankNifty opened flat and made a high of 51,382.10 and a low of 51,137.50 within the first half hour. For the rest of the session, it remained range-bound. It closed at 51,233, losing 84 points. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative. Demand/Support Zones Near Demand/Support Zone (15m): 50,688 - 50,909 Near Demand/Support Zone (Daily): 49,787.10 - 50,983.50 (tested) Far Support Level: 49,282.64 (61.8% FIBO retracement) Supply/Resistance Zones 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)
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY Prediction for tomorrow 24 Dec 24As we discussed Bankanifty, Bankanifty opened up +220 points and ended up sideways the whole day. If we look at the chart now: The market is trading at 1H-TF 0.618 fib level, which is a good point to support. It also did hold today nicely. Support levels : 51138, 50719. Resistance levels : 51762, 50 EMA and 200 EMA . If we look at the OI data: PCR = 0.6, which has increased from 0.5, shows bulls are adding PE in lower levels. The market has good PE writing at 51000, which is going to provide good support, and 51500 is going to provide good resistance as having very nice CE writing on a higher level. I have neutral behavior in the market. Reason: Price < EMAs shows bearish market structure. PCR = 0.6 shows that the market is bearish. RSI is 40 - 60, showing the sideways market structure. Price < VWAP shows the market is bearish right now. the market is trading at 0.618 fib level, which can be a good support point. Verdict : Sideways Plan of action: Sell 51500 CE and Sell 51500 PE (Hedge position) adjust according to the price action on given levels.
NSE:BANKNIFTY
by finnova_
BankNifty Intraday Support & Resistance Levels for 24.12.2024On Monday, BankNifty opened with a gap-up, touching a low of 51,030.40 before climbing to a high of 51,417.35. It closed positively at 51,317.60, gaining 558 points. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative. Demand/Support Zones Near Demand/Support Zone (15m): 50,688 - 50,909 Near Demand/Support Zone (Daily): 49,787.10 - 50,983.50 (tested) Far Support Level: 49,282.64 (61.8% FIBO retracement) Supply/Resistance Zones 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 As expected, BankNifty showed bullish momentum after entering the Daily Demand Zone on Friday and its oversold condition. If the Daily Demand Zone support holds, we may witness further upside movement toward 52,000 or even 52,700 in the coming days.
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 23.12.2024On Friday, BankNifty opened with a gap-down, climbing to a high of 51,629 before plummeting nearly 1,000 points to a day low of 50,609.35, entering the Daily Demand Zone. It closed negative for the 4th straight session at 50,759.20, losing 816 points. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) has turned negative. Demand/Support Zones Near Demand/Support Zone (Daily): 49,787.10 - 50,983.50 (current price inside the zone) Far Support Level: 49,282.64 (61.8% FIBO retracement) Supply/Resistance Zones 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 After shedding almost 3,000 points in the past week, BankNifty has entered an oversold zone on the 75m timeframe and closed inside the Daily Demand Zone. A bounce-back is possible unless this critical zone is breached.
NSE:BANKNIFTY
by PriteshPalan
BankNifty Intraday Support & Resistance Levels for 20.12.2024On Thursday, BankNifty opened with a significant gap-down, dropping to a low of 51263.75, entering the 125m Demand Zone and taking support near the 61.8% Fibonacci retracement level. It managed a slight recovery, reaching a high of 51789.85, but closed negative for the third consecutive session at 51575.70, losing 563 points. The Weekly Trend (50 SMA) has turned sideways from positive, while the Daily Trend (50 SMA) remains sideways. Demand/Support Zones Near Support: 51353 (61.8% Fibonacci retracement level) Near Demand/Support Zone (125m): 50898.75 - 51271.50 (tested) Far Demand/Support Zone (Daily): 49787.10 - 50983.50 Supply/Resistance Zones Near Supply/Resistance Zone (125m): 52709.40 - 52911.10 Near Supply/Resistance Zone (15m): 53159.20 - 53276.55 Far Supply/Resistance Zone (30m): 53489.70 - 53675.05 Far Supply/Resistance Zone (Weekly): 53741.40 - 54467.35 (tested) Key Insights BankNifty continues to hover near critical support levels, and a break below 51353 could push it further into the Daily Demand Zone. Resistance remains strong at 53000+ levels.
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY prediction for 29 Dec 24As we discussed yesterday, the market opened at -500 points and spent whole days sideways volatile moment. If we look at the chart now: The market is trading at 1H-TF 0.618 fib level, which is a good point to support. It also did hold today nicely. Support levels : 51138, 50719. Resistance levels : 52075, 52378, and 52833 . If we look at the OI data: PCR = 0.5, which has decreased from 0.9, shows bearish market behavior. The market has good CE and PE writing at 51500, which is going to provide maximum pain. On higher levels, the market has good CE writing at 52000 and 52500, which is going to provide a very good resistance point. On Lover, levels 51500 and 51000 have good PE writing, which is going to provide good support. I have neutral behavior in the market. Reason: Price < EMAs shows bearish market structure. PCR = 0.5 shows that the market is bearish. RSI < 40 shows the strength of a weak bull. Price < VWAP shows the market is bearish right now. the market is trading at 0.618 fib level, which can be a good support point. Verdict : Neutral Plan of action: Sell 51500 CE and Sell 51500 PE (Hedge position) adjust according to the price action on given levels.
NSE:BANKNIFTY
by finnova_
BankNifty Intraday Support & Resistance Levels for 19.12.2024On Wednesday, BankNifty opened negative, reached a high of 52827.60, but slipped to a low of 52010.65, entering the Daily Demand Zone. It ended the day at 52139.55, down by 695 points, marking its second consecutive losing session. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) has shifted to sideways. Demand/Support Zones Near Demand/Support Zone (Daily): 51693.95 - 52197.25 (current price inside this zone) Far Support: 51353 (61.8% Fibonacci level) Far Demand/Support Zone (125m): 50898.75 - 51271.50 Far Demand/Support Zone (Daily): 49787.10 - 50983.50 Supply/Resistance Zones Near Supply/Resistance Zone (125m): 52709.40 - 52911.10 Near Supply/Resistance Zone (15m): 53159.20 - 53276.55 Far Supply/Resistance Zone (30m): 53489.70 - 53675.05 Far Supply/Resistance Zone (Weekly): 53741.40 - 54467.35 (tested)
NSE:BANKNIFTY
by PriteshPalan
BANKNIFTY: INSTITUTIONAL LEVELS FOR 18/12/2024Overview This trading system combines simplicity with powerful insights for accurate entries and exits. It is structured for active traders using the 5-minute timeframe who want to make clear, confident trading decisions in fast-moving markets. Key Strategy Guidelines Retest Entries : Aim to enter trades on retests rather than breakouts, offering better positioning. Multiple Confirmations : Use more than one confirmation to validate each trade, helping avoid impulsive decisions. ATM Options Focus : Stick to at-the-money (ATM) options or above for optimal liquidity and manageable risk. System Explanation This setup leverages volume, historical price action, and price ranges to pinpoint high-probability entry and exit points. This methodology is designed to reduce guesswork, allowing traders to manage trades with a consistent approach. How It Works: Entry/Exit Signals Blue Line : Signals potential long entry. Red Line : Indicates potential short entry. Tip : Align these signals with additional confirmations from your trading strategy for optimal performance. Stop Loss and Take Profit Levels Stop Loss: Long Trades : Set your stop loss at the nearest red line below the entry point, or adjust based on whether the 5-minute candle crosses the red line. Short Trades : Use the blue line above as the stop loss. Take Profit: Long Entries :Target the next red line above or exit if other indicators suggest a prudent exit. Short Entries :Target the next blue line below following similar guidelines. Timeframe Recommendation This system is specifically optimized for the 5-minute timeframe, making it suitable for those trading shorter intervals with precision. Risk Disclaimer Trading involves high risk, and rapid price changes can lead to unexpected losses. Only trade with capital you can afford to lose, and carefully assess your financial situation and risk tolerance. Join the Community Discussion Engage with other traders to discuss strategies, share insights, and enhance your understanding of the markets. Let’s grow together as a community of traders. Original Content This trading system is the product of my own expertise and rigorous testing. It’s a unique approach developed through real market experience to offer a clear edge in trading.
NSE:BANKNIFTY
by tony_fx_sm
6
BankNifty Intraday Support & Resistance Levels for 18.12.2024On Tuesday, BankNifty opened negative, hit a high of 53515.70, and dropped sharply to a low of 52709.40. It closed flat at 52834.80, losing 746 points over the previous close. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain positive. Demand/Support Zones Near Demand/Support Zone (75m): 52264.55 - 52665.15 Far Demand/Support Zone (Daily): 51693.95 - 52197.25 Far Demand/Support Zone (125m): 51693.95 - 51906.90 Supply/Resistance Zones Near Supply/Resistance Zone (15m): 53159.20 - 53276.55 Near Supply/Resistance Zone (30m): 53489.70 - 53675.05 Far Supply/Resistance Zone (Weekly): 53741.40 - 54467.35 (tested) Key Insights BankNifty is oscillating between key support and resistance levels. Immediate support lies in the 75m Demand Zone at 52265 - 52665, while resistance is seen in the 30m Supply Zone at 53490 - 53675. A decisive move beyond these levels could provide clarity on the next trend. Stay focused and plan your trades wisely!
NSE:BANKNIFTY
by PriteshPalan
#Banknifty directions and levels for December 17th.Bank Nifty Current View: Bank Nifty also reflects a similar sentiment as Nifty. If the market initially takes a pullback, it could reach a minimum of 53,703 to 53,791. However, the rally will continue only if the market breaks this level with a solid candle. If it does, we can expect the next targets at 53,934 and 54,099. Alternate View: The alternate view suggests that if the market sustains the gap-down, the 38% Fibonacci level will act as strong support. If the market finds support here, we can expect a bounce back of at least 38% to 78% in the minor swing. Conversely, if this support level is broken, the market may move lower to the 50% and 61% Fibonacci levels in the minor swing.
NSE:BANKNIFTY
by Manickamtraders
Banknifty Analysis for tomorrow 17 Dec 24As we discussed yesterday, the market was sideways as it could not break the resistance level. If we look at the chart now: The market is in a sideways zone and expected to have a bullish bias. If Liquidy Grab came, it might also touch 53300. However, the market is not Bearish right now unless it breaks the support (53300) to the downside. It is a sideways area in the orange region, and it is bullish in the green region. Support levels : 50 EMA, 53300, 52980, 200 EMA Resistance levels : 53724, 24290 If we look at the OI data: PCR = 0.9 (unchanged) shows bullish market behavior. There has been good PE writing at 53500, which is going to provide a good support level. Also, 53500 has good CE writing, which might hold the level for a bit. The next good resistance is 54000. I am expecting the market to be bullish (if breaks upside) in upcoming sessions. Reason: The market has broken the upside in the channel-making flag and pole structure. PCR = 0.9 shows that the Market is Bullish. RSI ~ 60 shows a Bullish structure. Price > VWAP shows the market is bearish right now. Price is trading in the mother bar candle zone, which is going to be sideways. Once it's broken, it can give nice bullish momentum. Verdict : Sideways in region or Bullish if breaks 53750 to upside. Plan of action: Inside sideways Zone IRON CONDOR, if breaks 53750 go BULLISH.
NSE:BANKNIFTY
by finnova_
BANKNIFTY: INSTITUTIONAL LEVELS FOR 16/12/2024Overview This trading system combines simplicity with powerful insights for accurate entries and exits. It is structured for active traders using the 5-minute timeframe who want to make clear, confident trading decisions in fast-moving markets. Key Strategy Guidelines Retest Entries : Aim to enter trades on retests rather than breakouts, offering better positioning. Multiple Confirmations : Use more than one confirmation to validate each trade, helping avoid impulsive decisions. ATM Options Focus : Stick to at-the-money (ATM) options or above for optimal liquidity and manageable risk. System Explanation This setup leverages volume, historical price action, and price ranges to pinpoint high-probability entry and exit points. This methodology is designed to reduce guesswork, allowing traders to manage trades with a consistent approach. How It Works: Entry/Exit Signals Blue Line : Signals potential long entry. Red Line : Indicates potential short entry. Tip : Align these signals with additional confirmations from your trading strategy for optimal performance. Stop Loss and Take Profit Levels Stop Loss: Long Trades : Set your stop loss at the nearest red line below the entry point, or adjust based on whether the 5-minute candle crosses the red line. Short Trades : Use the blue line above as the stop loss. Take Profit: Long Entries :Target the next red line above or exit if other indicators suggest a prudent exit. Short Entries :Target the next blue line below following similar guidelines. Timeframe Recommendation This system is specifically optimized for the 5-minute timeframe, making it suitable for those trading shorter intervals with precision. Risk Disclaimer Trading involves high risk, and rapid price changes can lead to unexpected losses. Only trade with capital you can afford to lose, and carefully assess your financial situation and risk tolerance. Join the Community Discussion Engage with other traders to discuss strategies, share insights, and enhance your understanding of the markets. Let’s grow together as a community of traders. Original Content This trading system is the product of my own expertise and rigorous testing. It’s a unique approach developed through real market experience to offer a clear edge in trading.
NSE:BANKNIFTY
by tony_fx_sm