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Support and Resistance

BankNifty Intraday Support & Resistance Levels for 13.11.2024On Tuesday, BankNifty opened with a gap up, hitting a high of 52,169.05 before a sharp sell-off brought it down over 1,000 points to a low of 51,006.85, reaching the 30m demand zone highlighted in our last post. It closed at 51,157.80, down by 719 points. The Weekly and Daily Trends (50 SMA) both remain sideways. As BankNifty closed within the 30m demand zone, it has a chance to hold support around 50,900. If this level holds, a bounce to 51,650 or even 52,000 could be in play. However, if BankNifty falls below 50,900, it may slide further to the next major support at 49,959 or lower. Demand/Support Zones Near Support (30m): 50,900.10 - 51,230.85 (current price within the zone) Deeper Support (15m): 50,382.10 - 50,485.15 Major Support (Daily): 49,654.65 - 49,959.25 Far Support: 49,282.65 (61.8% FIBO) Extended Support (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Immediate Resistance (15m): 51,652.20 - 51,758.90 Higher Resistance (15m): 51,919.75 - 52,008.05 Key Resistance (30m): 52,232.35 - 52,396.50 Major Resistance (Daily): 52,817.80 - 53,235.25 Extended Resistance (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPal
2
Nifty Intraday Support & Resistance Levels for 13.11.2024On Tuesday, Nifty opened with a gap up, reaching a high of 24,242 but failed to hold gains, dropping 400 points from the peak to a low of 23,839.15, breaking below the 30m demand zone. It closed at 23,883.45, down by 258 points. The Weekly Trend (50 SMA) is sideways, while the Daily Trend (50 SMA) remains negative. As noted in previous posts, Nifty continues to be a "Sell on Rise" market until trends shift. Since reaching 24,537.60 last week, Nifty has declined steadily, losing 700 points over the past five trading days. Demand/Support Zones Near Support (Daily): 23,350 - 23,667.10 Deeper Support: 23,189.88 (61.8% FIBO) Major Support (Daily): 22,642.60 - 22,910.15 Supply/Resistance Zones Near Resistance (75m): 24,106.90 - 24,242.00 Mid Resistance (75m): 24,447.65 - 24,537.60 Further Resistance (75m): 24,636.75 - 24,741.45 Key Resistance (Daily): 24,567.65 - 24,978.30 Extended Resistance (Daily): 25,739.20 - 25,907.60
NSE:NIFTY
by PriteshPal
Nifty Intraday Analysis for 12th November 2024NSE:NIFTY Index closed near 24140 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24500 Strike – 72.55 Lakh 24300 Strike – 47.91 Lakh 24200 Strike – 45.80 Lakh Put Writing 24000 Strike – 39.91 Lakh 24200 Strike – 34.10 Lakh 24100 Strike – 27.49 Lakh Index has resistance near 24350 – 24400 range and if index crosses and sustains above this level then may reach near 24500 - 24600 range. Index has immediate support near 24100 – 24000 range and if this support is broken then index may tank near 23850 – 23800 range.
NSE:NIFTYLong
by RKMAURYA
Banknifty Intraday Analysis for 12th November 2024NSE:BANKNIFTY Index closed near 51875 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 53000 Strike – 44.40 Lakh 52500 Strike – 28.51 Lakh 52000 Strike – 22.15 Lakh Put Writing 51000 Strike – 18.98 Lakh 51500 Strike – 18.28 Lakh 50500 Strike – 16.33 Lakh Index has resistance near 52350 – 52500 range and if index crosses and sustains above this level then may reach near 52900 – 53000 range. Index has immediate support near 51500 - 51400 range and if this support is broken then index may tank near 51000 - 50900 range.
NSE:BANKNIFTYLong
by RKMAURYA
Finnifty Intraday Analysis for 12th November 2024NSE:CNXFINANCE Index closed near 23960 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 24500 Strike – 25.44 Lakh 24200 Strike – 21.42 Lakh 24400 Strike – 16.30 Lakh Put Writing 23500 Strike – 22.74 Lakh 23400 Strike – 14.51 Lakh 23800 Strike – 14.97 Lakh Index has resistance near 24150 - 24250 range and if index crosses and sustains above this level then may reach near 24350 - 24400 range. Index has immediate support near 23800 – 23750 range and if this support is broken then index may tank near 23550 – 23500 range.
NSE:CNXFINANCELong
by RKMAURYA
Midnifty Intraday Analysis for 12th November 2024NSE:NIFTY_MID_SELECT Index closed near 12495 level and Maximum Call and Put Writing near CMP as below in current weekly contract: Call Writing 12500 Strike – 6.81 Lakh 12600 Strike – 1.68 Lakh 12700 Strike – 1.25 Lakh Put Writing 12500 Strike – 6.66 Lakh 12300 Strike – 1.49 Lakh 12400 Strike – 1.29 Lakh Index has immediate resistance near 12600 - 12700 range and if index crosses and sustains above this level then may reach 12850 – 12900 range. Index has immediate support near 12400 – 12350 range and if this support is broken then index may tank near 12200 – 12150 range.
NLong
by RKMAURYA
BankNifty levels - Nov 13, 2024Utilizing 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 - Nov 13, 2024Nifty 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
Is BELUSDT on the Verge of a Bullish Breakout?Yello, Paradisers! BELUSDT is showing bullish signals with a clear Change of Character (CHoCH) and Break of Structure (BOS). Currently, it's approaching a significant resistance trendline and has formed W pattern, both of which heighten the chances of a bullish move. 💎If BELUSDT breaks above the resistance trendline and zone, closing a candle above these levels, it would confirm the W pattern. This would significantly increase the probability of a sustained bullish movement. 💎If we see a retracement, we expect support to hold, potentially providing a bounce. However, to strengthen the bullish case, we'll be watching closely for a bullish Internal CHoCH (I-CHoCH) in this zone. 💎However, If BELUSDT breaks down and closes a candle below the support zone, our bullish outlook would be invalidated. In this case, it would be wiser to wait for a more favorable price structure to emerge before making any moves. Patience and discipline are essential here. Watch for confirmation signals at these levels, and remember that waiting for the right price action can make all the difference between success and failure in this market. MyCryptoParadise iFeel the success🌴
Long
by MyCryptoParadise_Nathan
Redington: Swing Trade OpportunityRedington has demonstrated a significant recovery after a rebound from the demand zone, which is identified between the price levels of 158 to 161. The stock has successfully breached the previously established resistance range of 186 to 189, closing above this critical level, which is a positive indicator for potential further upward movement. The price movement from lower lows to higher highs illustrates a robust bullish trend. Notably, the stock has encountered the 61.8% Fibonacci retracement level multiple times, reinforcing the notion of a strong upward trajectory in the near term. This recurring interaction with the Fibonacci level suggests that the market participants view this area as a strong point of support and resistance, which is crucial for traders to consider. Further corroborating the positive outlook, both the Relative Strength Index and the Moving Average Convergence Divergence indicators on the daily and weekly time frames reflect strong buying momentum. An RSI value above 70 may indicate an overbought condition; however, current readings suggest that the stock is not yet in that territory, leaving room for potential upward movement. Meanwhile, the MACD crossing above its signal line indicates a bullish trend. The stock currently appears poised for accumulation at the current market price. Traders and investors should be aware of a potential resistance range at approximately 225 to 227. It is advisable to consider placing a stop-loss order below the demand zone, ideally around the 158 level, to mitigate potential losses in the event of an unfavourable market movement. Disclaimer: The information contained in this technical analysis report is for informational and educational purposes only and should not be construed as financial advice. It is recommended that individuals conduct their own research or consult a qualified financial advisor and consider their financial situation and risk tolerance before making any investment decisions.
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#NIFTY - 12 TH NOVEMBER NSE:NIFTY #NIFTYBANK ⚡ Observe, understand, then implement 👍🏻 Chart contains support and resistance levels (understand how it works 👇🏻) Support and resistance are key concepts in technical analysis used to identify potential price levels where assets may reverse or stall. Support: -Definition: A support level is a price point where buying interest is strong enough to overcome selling pressure, preventing the price from falling further. - Indicators: Support levels can be identified through historical price data, trend lines, or moving averages. - Behavior: When a price approaches support, it may bounce back up. If broken, it can become a new resistance level. Resistance: - Definition: A resistance level is a price point where selling interest is strong enough to overcome buying pressure, preventing the price from rising further. - Indicators: Similar to support, resistance levels can be identified through past price action, trend lines, or moving averages. - Behavior: When the price approaches resistance, it may retreat. If broken, it can turn into a new support level. Importance: - Trade Decisions: Traders use these levels to make buy or sell decisions, set stop-loss orders, and identify potential profit targets. - Market Psychology: Support and resistance levels reflect market sentiment and the balance between supply and demand. Understanding these concepts can enhance trading strategies and improve decision-making. P.S note : im not SEBI REGISTRAR 🙏🏻 Any doubt 👉🏻 @thetradeforecast
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NSE:BANKNIFTYLong
by thetradeforecast
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BankNifty Intraday Support & Resistance Levels for 12.11.2024On Monday, BankNifty started flat, dipped to 51,294.20, then rallied up to 52,177.70, nearing the 30m supply zone. It closed at 51,876.75, adding 315 points over the previous close. Both the Weekly and Daily Trends (50 SMA) remain sideways. Key demand and supply zones are unchanged from the last post. Demand/Support Zones Near Support (30m): 50,900.10 - 51,230.85 Minor Support (15m): 50,382.10 - 50,485.15 Deeper Support (Daily): 49,654.65 - 49,959.25 Extended Support: 49,282.65 (61.8% FIBO) Major Support (Daily): 44,633.85 - 45,750.40 Supply/Resistance Zones Near Resistance (30m): 52,232.35 - 52,396.50 Key Resistance (Daily): 52,817.80 - 53,235.25 Extended Resistance (Weekly): 53,741.40 - 54,467.35
NSE:BANKNIFTY
by PriteshPal
Nifty Intraday Support & Resistance Levels for 12.11.2024On Monday, Nifty opened on a negative note, dropped to a low of 24,004.60, then rebounded mid-session to reach 24,336.80. However, it couldn't hold the gains and closed at 24,141.30, down 7 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is still negative. Key demand and supply zones stay unchanged from the previous update. Demand/Support Zones Near Support (30m): 23,842.75 - 23,951.10 Key Support (Daily): 23,350 - 23,667.10 Deep Support: 23,189.88 (61.8% FIBO) Extended Support (Daily): 22,642.60 - 22,910.15 Supply/Resistance Zones Near Resistance (30m): 24,447.65 - 24,537.60 Key Resistance (75m): 24,636.75 - 24,741.45 Major Resistance (Daily): 24,567.65 - 24,978.30 Extended Resistance (Daily): 25,739.20 - 25,907.60
NSE:NIFTY
by PriteshPal