Bank Nifty IndexAs of April 29, 2025, here are the key support and resistance levels for the Bank Nifty Index based on recent technical analyses:
📈 Bank Nifty Support and Resistance Levels:
Type Level (₹)
Resistance 1 (R1) 46,000
Resistance 2 (R2) 46,375
Resistance 3 (R3) 47,200
Support 1 (S1) 45,236
Support 2 (S2) 44,936
Support 3 (S3) 44,100
These levels are derived from recent technical analyses and can serve as potential reversal or breakout zones for the index.
📊 Additional Technical Indicators
Relative Strength Index (RSI): Approximately 52, indicating a neutral to slightly bullish momentum.
Moving Averages:
5-Day Average: ₹53,435.41
50-Day Average: ₹51,815.64
200-Day Average: ₹50,455.01
The stock is trading above its 5-day and 50-day simple moving averages (SMAs), suggesting a short-term bullish trend.
📌 Key Observations
Resistance Levels: If Bank Nifty breaks above ₹46,000, it may face resistance at ₹46,375 and ₹47,200.
Support Levels: A decline below ₹45,236 could lead to further support at ₹44,936 and ₹44,100.
Trend Analysis: The index is currently testing the upper resistance zone. A breakout above ₹46,000 could signal a continuation of the upward trend. Conversely, a drop below ₹45,236 may indicate a bearish reversal.
Please note that these levels and indicators are based on historical data and technical analysis, and actual market conditions may vary. It's advisable to conduct further research or consult with a financial advisor before making investment decisions.
