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Support and Resistance

BankNifty Intraday Support & Resistance Levels for 16.01.2025On Wednesday, BankNifty opened gap-up, hitting a high of 49,083.65 early in the session. However, it faced selling pressure and dropped to a low of 48,522.40 before recovering slightly to close at 48,751.70, gaining a modest 22 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): 47,950.15 - 48,117.75 Near Support: 46,077.85 (low of 4th June 2024) Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Supply/Resistance Zone (15m): 49,175.30 - 49,358.15 Near Supply/Resistance Zone (15m): 49,492.15 - 49,557.35 Near Supply/Resistance Zone (75m): 49,787.70 - 49,979.05 Near Supply/Resistance Zone (Daily): 49,230.15 - 50,447.60 Far Supply/Resistance Zone (125m): 51,082.80 - 51,671.60 Far Supply/Resistance Zone (125m): 52,010.65 - 52,368.30 Outlook BankNifty continues to face resistance at higher levels. But, if the 15m demand zone remains intact, it could test 49,400 or even 49,800 in the coming sessions. However, sustained selling could pull it towards the lower supports.
NSE:BANKNIFTY
by PriteshPalan
Nifty Intraday Support & Resistance Levels for 16.01.2025On Wednesday, Nifty opened gap-up at 23,250.45 and showed mixed movements throughout the session. After making an early low of 23,165.30, it rallied to a high of 23,293.65, briefly entering the 15m supply zone. However, it faced resistance and dropped to a session low of 23,146.45, before recovering to close at 23,213.20, gaining 37 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 (30m): 23,063.25 - 23,122.80 Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 Supply/Resistance Zones Near Supply/Resistance Zone (30m): 23,396.85 - 23,454.65 Near Supply/Resistance Zone (Daily): 23,496.15 - 23,795.20 Far Supply/Resistance Zone (75m): 23,645.05 - 23,726.85 Far Supply/Resistance Zone (Daily): 23,976 - 24,196.45 Outlook Nifty tested the 15m supply zone and dropped signaling selling pressure at higher levels. However, the 30m demand zone is holding steady, providing hope for recovery. If this support remains intact, Nifty could aim for 23,400 or even 23,500 in the coming sessions.
NSE:NIFTY
by PriteshPalan
Nifty weekly expiry analysis for 16/01/2025For last 2 trading session nifty is consolidating in a box, while banknifty is moving 400-500 points in intraday and tomorrow is it's weekly expiry. If the market starts trading outside the box, there is high probability of forming a trending day for the index. Market had respected the round number support of 23k. It can either retest the support or even breach the recent low to test the support trendline. Major levels (for intraday) Support :- 23135, 23000 Resistance :- 23285, 23380 Wait and watch the price action for confirming the direction and intensity of the move.
NSE:NIFTY
by TheMamboMomentum
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NSE:NIFTYEducation
by SkyTradingZone
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NSE:KOTAKBANKEducation
by SkyTradingZone
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NSE:HDFCBANKEducation
by SkyTradingZone
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option chain in trading An option chain lists all option contracts, including put and call option for given security. However, several traders focus on net change,' 'bid,' 'last price,' and 'ask,' columns to assess current market conditions. Option chain is also called the option matrix. It proves useful for assessing the depth and liquidity of specific strikes. It aids traders to find option premium against its corresponding maturity date and strike price. Option chain serves as a warning against breakouts or sharp moves in the index.
NSE:BANKNIFTY1!Long
by SkyTradingZone
Nifty Intraday Analysis for 15th January 2025NSE:NIFTY Index closed near 23175 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 23500 Strike – 111.17 Lakh 23400 Strike – 83.77 Lakh 23200 Strike – 71.49 Lakh Put Writing 23000 Strike – 110.89 Lakh 23200 Strike – 93.73 Lakh 23100 Strike – 52.72 Lakh Index has resistance near 23250 - 23300 range and if index crosses and sustains above this level then may reach near 233400 - 23450 range. Index has immediate support near 23050 – 23000 range and if this support is broken then index may tank near 22850 – 22800 range.
NSE:NIFTY
by RKMAURYA
Banknifty Intraday Analysis for 15th January 2025NSE:BANKNIFTY Index closed near 48730 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 50000 Strike – 17.85 Lakh 49000 Strike – 11.37 Lakh 49500 Strike – 9.15 Lakh Put Writing 48000 Strike – 13.55 Lakh 49000 Strike – 10.66 Lakh 48500 Strike – 9.24 Lakh Index has resistance near 49350 – 49500 range and if index crosses and sustains above this level then may reach near 49600 – 49700 range. Index has immediate support near 47400 - 47300 range and if this support is broken then index may tank near 47700 - 47600 range.
NSE:BANKNIFTY
by RKMAURYA
Finnifty Intraday Analysis for 15th January 2025NSE:CNXFINANCE Index closed near 22720 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 23500 Strike – 1.25 Lakh 22000 Strike – 0.84 Lakh 23400 Strike – 0.53 Lakh Put Writing 22500 Strike – 1.30 Lakh 23000 Strike – 0.63 Lakh 22600 Strike – 0.61 Lakh Index has resistance near 22900 - 22950 range and if index crosses and sustains above this level then may reach near 23100 - 23150 range. Index has immediate support near 22550 – 22500 range and if this support is broken then index may tank near 22400 – 22350 range.
NSE:CNXFINANCE
by RKMAURYA
Midnifty Intraday Analysis for 15th January 2025NSE:NIFTY_MID_SELECT Index closed near 12060 level and Maximum Call and Put Writing near CMP as below in January Month contract: Call Writing 12000 Strike – 4.26 Lakh 12300 Strike – 2.73 Lakh 12200 Strike – 1.78 Lakh Put Writing 12000 Strike – 6.98 Lakh 11800 Strike – 2.46 Lakh 11900 Strike – 2.03 Lakh Index has immediate resistance near 12200 – 12250 range and if index crosses and sustains above this level then may reach 12400 – 12450 range. Index has immediate support near 11900 – 11850 range and if this support is broken then index may tank near 11700 – 11650 range.
NSE:NIFTY_MID_SELECT
by RKMAURYA
BankNifty levels - Jan 16, 2025Utilizing the support and resistance levels of BankNifty, along with the 5-minute timeframe candlesticks and VWAP, can enhance the precision of trade entries and exits on or near these levels. It is crucial to recognize that these levels are not static, and they undergo alterations as market dynamics evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We trust that this information proves valuable to you. * If you found the idea appealing, kindly tap the Boost icon located below the chart. We encourage you to share your thoughts and comments regarding it. Wishing you successful trading endeavors!
NSE:BANKNIFTY
by sacxe
Nifty levels - Jan 16, 2025Nifty support and resistance levels are valuable tools for making informed trading decisions, specifically when combined with the analysis of 5-minute timeframe candlesticks and VWAP. By closely monitoring these levels and observing the price movements within this timeframe, traders can enhance the accuracy of their entry and exit points. It is important to bear in mind that support and resistance levels are not fixed, and they can change over time as market conditions evolve. The dashed lines on the chart indicate the reaction levels, serving as additional points of significance to consider. Furthermore, take note of the response at the levels of the High, Low, and Close values from the day prior. We hope you find this information beneficial in your trading endeavors. * If you found the idea appealing, kindly tap the Boost icon located below the chart. We encourage you to share your thoughts and comments regarding it. Wishing you success in your trading activities!
NSE:NIFTY
by sacxe
Kaynes bouncing from channel support and 50 D #Kaynes Technology. Looks good for a Swing. Entry: Buy Small quantities in CMP(6547) Stop Loss (SL):Marked at ₹5,806.30, Target (T1): ₹7,697 ✅Channel Pattern: The price is moving within an ascending channel, respecting both the upper and lower trendlines. The recent pullback appears to have tested the lower trendline support, followed by a bounce. ✅The stock is trading above the 200-day moving average (yellow line), signifying a bullish long-term trend. ✅Stock Takes support at 50 DMA. Right now it is bouncing from channel support and 50 DMA. ✅A sharp green candle on strong volume indicates renewed buying interest at current levels. 📎Strategy: Buy at CMP in small quantities to reduce risk, as per the chart's suggestion. 📎Watch for:A strong close above the middle of the channel for confirmation of bullish momentum toward the target. Exit the trade if the price breaches the ₹5,806.30 stop-loss level. ⚠️Overall Trend is bearishI'm Not sure if this is the beginning of a bear market or a Bull Market Correction. So keep the positions limited. Do not go full-on. Keep your capital safe and manage the risk properly.
NSE:KAYNESLong
by sagartharayil
Britannia Industries: Strong Support at Long-Term TrendlineBritannia Industries is currently at a significant support level, having touched a four-year long-term trendline. The stock has declined 24% from its all-time high, making it a potential buying opportunity for investors. Fundamental Points for Britannia Industries (2024) Market Capitalization: Approximately ₹1,19,229 crore. P/E Ratio: Around 55.96, indicating a premium valuation. Return on Equity (ROE): Approximately 54.28%, reflecting strong profitability. Dividend Yield: About 1.48%, providing consistent income to investors. Recent Performance: The stock has shown resilience with a recent increase of 3.06% on January 9, 2025.
NSE:BRITANNIA
by DragonFly-Trading