BANKNIFTY 1 Day View📈 Key Support & Resistance Levels
Immediate Support: 53,917
Positional Support: 52,802
Immediate Resistance: 54,673
Positional Resistance: 55,055, 55,592, 55,747, 55,999, 56,042, 56,076
These levels are derived from recent market data and are crucial for day traders to monitor for potential breakout or breakdown scenarios.
🔍 Technical Indicators Overview
Stochastic RSI: Currently in a bullish zone, indicating upward momentum.
Rate of Change (ROC): Positive, suggesting increasing buying interest.
These indicators align with the current bullish sentiment in the market.
🧭 Market Sentiment & Outlook
The Bank Nifty index has shown consistent upward movement, supported by positive market sentiment and favorable macroeconomic factors. If the index maintains its position above the immediate support levels, further gains toward the next resistance zones are possible.
✅ Trading Strategy Recommendations
Bullish Scenario: Consider initiating long positions if the index sustains above 54,673, targeting the next resistance levels.
Bearish Scenario: Monitor for signs of weakness below 53,917, which could lead to a pullback toward the positional support at 52,802.
