PriteshPal

PriteshPal

Nifty made multiple attempts to cross and sustain above 23,300 - 23,400 but failed due to selling pressure at higher levels. It faced rejection from the supply zone mentioned in the last post and has now created a fresh supply zone at similar levels. The weekly trend (50 SMA) remains positive, while the daily trend is sideways. Support/Demand Levels: Near...

PriteshPal

BankNifty entered the supply/resistance zone (above 50,092) mentioned in the last post and, due to selling pressure at higher levels, made a day low of 49,622.75, down from the top of 50,252.95. The weekly trend (50 SMA) is positive, while the daily trend is sideways. Support Levels: Near Support Zone (15m): 48,801 - 49,055 (remains the same) Far Support Zone...

PriteshPal

Nifty made a new all-time high of 23,411.90 but wasn't able to close above the previous high of 23,338.70 due to profit booking at higher levels. The weekly trend (50 SMA) remains positive, while the daily trend is sideways. Support Levels: Near Support Zone (15m): 23,037 - 23,078 (remains the same) Far Support Zone (125m): 22,642 - 22,911 Farther Support Zone...

PriteshPal

Support Levels: Near Support Zone (15m) for Intraday: 48,801 - 49,055 Far Support Zone (75m): 47,386 - 48,245 Resistance Levels: Major Resistance/Supply Zone (Daily): 50,092 - 51,133.20 (remains the same)

PriteshPal

Support Levels: Near Support Zone (15m): 23,037 - 23,078 Far Support Zone (125m): 22,642 - 22,911 Farther Support Zone (125m): 22,213 - 22,445 Resistance Levels: Nearest Resistance: All-Time High at 23,338.70

PriteshPal

BankNifty stayed inside the 15-minute resistance/supply zone mentioned yesterday. It closed above the important level of 61.8% retracement (of the last swing) at 49,202, which is a positive sign. If BankNifty can sustain this level, we might see further upward movement. Support Levels: Near Support Zone (30m) for Intraday: 47,386 - 48,000 Near Support Zone (15m)...

PriteshPal

Nifty stayed inside the 15-minute resistance/supply zone mentioned yesterday. Currently, Nifty is above the important level of 61.8% retracement (of the last swing) at 22,553, which is a positive sign. If Nifty can sustain this level, we might see further upward movement. Support Levels: Near Support Zone (75m): 22,213 - 22,372 Far Support Zone (Daily): 21,137 -...

PriteshPal

BankNifty gained 4.5% yesterday and closed inside the 15-minute resistance zone mentioned in the last post. If it breaks above 49,700, we might see selling pressure at the daily resistance zone starting at 50,092. Support Levels: Near Support Zone (30m) for Intraday: 47,386 - 48,000 Near Support Zone (15m) for Intraday: 46,511 - 46,833 Near Support Zone (Daily):...

PriteshPal

Nifty gained more than 3% yesterday and closed near the 15-minute resistance zone mentioned in the last post. If it breaks above 22,900, we might see selling pressure at the daily resistance zone starting at 23,062. Support Levels: Intraday Support Zone (15m): 21,944 - 22,076 Near Support (Daily): 21,137 - 21,459 (remains the same) Far Support (Daily): 20,769 -...

PriteshPal

Huge selling was witnessed yesterday due to election results that did not align with exit polls. A big red candle on the daily chart broke almost all near supports of the last two months, breaking the support trendline and taking support at the daily demand zone of 45,661 - 46,330 (which was already tested once in the past). Support Levels: Near Minor Support...

PriteshPal

Huge selling was witnessed yesterday due to election results that did not align with exit polls. A big red candle on the daily chart broke almost all near supports of the last four months, breaking the channel and taking support at the daily demand zone of 21,137 - 21,459. Support Levels: Near Small Support (Daily): 21,137 - 21,459 Far Support (Daily): 20,769 -...

PriteshPal

After yesterday's GAP UP opening and high closing, the last Friday's high-low range will serve as a good support if we see a correction from high levels. Support Levels: Near Support Zone (Daily): 48,569 - 49,123 Further Support Zone (Daily): 47,435 - 48,260

PriteshPal

GIFTNIFTY is trading flat at 23,446 as of 8:35 AM. After yesterday's GAP UP opening and high closing, the last Friday's high-low range will serve as a good support if we see a correction from high levels. Support Levels: Near Support (Daily): 22,417 - 22,568 Far Support Zone (75m): 21,821 - 22,041

PriteshPal Updated 

Reliance Industries, a major component of Nifty 50 with more than 10% weightage, is currently trading at 2850, which is the 61.8% FIBO retracement level of the last swing. We might expect a good bounce from this level. However, if this level does not sustain on a closing basis, we might see a fall to 2728, where there is a strong demand/support zone at 2647 -...

PriteshPal

As GIFTNIFTY indicates a GAP UP opening, we might see a new all-time high today for BankNifty. Here are the high time frame support and resistance zones instead of intraday levels: Support Levels: Near Support Zone (Daily): 47,435 - 48,260 Far Support: 48,017 (61.8% FIBO level of the last swing) Further Down Support Zone (Previous Low): 46,983 Resistance...

PriteshPal

GIFTNIFTY is trading 3.5% up (800+ points) as of 8:05 AM, indicating we will see a GAP UP opening today and hit a new all-time high. Here are the high time frame support and resistance zones instead of intraday levels: Support Levels: Near Support (Daily): 22,417 - 22,568 Far Support Zone (75m): 21,821 - 22,041 Resistance Levels: Nearest Resistance Zone (Daily):...

PriteshPal

Yesterday, BankNifty took support at the 75-minute zone (48,216 - 48,410) mentioned in the last two posts and bounced up to the near supply zone (49,043 - 49,187), as indicated in the previous post. Support Levels: Near Support Zone (75m): 48,216 - 48,410 (remains the same) Far Support: 48,017 (61.8% FIBO level of the last swing) Further Down Support Zone (125m):...

PriteshPal

Nifty continued its downward journey yesterday, ending 216 points down. The nearest support zone (daily 22,483 - 22,630) mentioned in the last post was broken, with Nifty making a low of 22,417. Support Levels: Near Support: 22,313 (61.8% FIBO level of the last swing) Far Support Zone (75m): 21,821 - 22,041 Resistance Levels: Nearest Resistance Zone (15m):...