PriteshPal

PriteshPal

For today, the support and resistance levels for BankNifty are crucial to watch: 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) Resistance Levels: Near Resistance Zones (30m): 49,043 - 49,187 and 49,186 - 49,320 Far Resistance Zone (75m): 49,502 - 49,689

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Yesterday, Nifty took support at the near support zone mentioned in the last post and bounced in the first 30 minutes. However, it did not sustain and fell, closing 183 points down by the end. Support Levels: Nearest Support Zone (Daily): 22,483 - 22,630 Far Support: 22,313 (61.8% FIBO level of the last swing) Resistance Levels: Nearest Resistance Zone (30m):...

PriteshPal

Yesterday, BankNifty was unable to cross the first 15-minute high, and selling pressure was witnessed, resulting in a loss of 139 points by the close. Support Levels: Near Support Zone (125m): 48,789 - 49,053 Far Support Zone (75m): 48,216 - 48,410 Resistance Levels: Near Resistance Zone (75m): 49,502 - 49,689 Far Resistance Zone (15m): 49,818 - 49,975

PriteshPal

Nifty continues to indicate selling pressure at higher levels due to the 23,000 psychological mark. The support and resistance levels remain the same as mentioned in the last post. Resistance Levels: Nearest Resistance Zone (30m): 23,047 - 23,111 Support Levels: Nearest Support Zone (15m): 22,744 - 22,769 Far Support Zone (15m): 22,577 - 22,623

PriteshPal

Yesterday, BankNifty experienced a strong rally, coming just 300 points short of its all-time high. Similar to Nifty, there was selling pressure in the last hour, but it still managed to close with a 300-point gain. Resistance Levels: Near Resistance Zone (30m): 49,583 - 49,689 Far Resistance Zone (15m): 49,818 - 49,975 Support Levels: Near Support Zone (125m):...

PriteshPal

For the second day in a row, Nifty crossed the 23,000 mark but failed to close above it, indicating selling pressure at this psychological level. In the last hour of trading, we saw a fall that broke the previous day's low. Resistance Levels: Nearest Resistance Zone (30m): 23,047 - 23,111 Support Levels: Nearest Support Zone (15m): 22,744 - 22,769 Far Support...

PriteshPal Updated 

As Nifty approaches the psychological mark of 23,000, we might see some profit booking. It's important to remain cautious leading up to the major event on June 4th (Election Results). Support Levels: Nearest Support: 22,744 - 22,769 Far Support: 22,577 - 22,623

PriteshPal

BankNifty broke the major resistance zone of 48,784 - 49,011 and closed near the psychological level of 49,000. The data looks positive, and we might be heading towards a new all-time high for BankNifty. Support Levels: Near Support: 48,129 - 48,410 (remains the same as mentioned in the previous post)

PriteshPal

Yesterday, BankNifty opened above the important level of 47,877 (the 61.8% retracement of the last swing) and stayed above it, gaining 1,000 points. The data looks bullish for BankNifty as well. Support Levels: Near Support: 48,129 - 48,410 Resistance Levels: Major Resistance Zone: 48,784 - 49,011 (remains the same)

PriteshPal

Yesterday, Nifty hit an all-time high, nearing the 23,000 mark. While all data looks positive, the Dow Jones fell 600 points, so we might see a gap-down opening today. Support Levels for Intraday: Nearest Support: 22,744 - 22,767 Far Support: 22,577 - 22,623

PriteshPal Updated 

Yesterday, BankNifty reacted from the supply zone (48,213 - 48,458) mentioned in our previous post and dropped approximately 800 points from 48,200. It found support in the 47,346 - 47,542 zone and rebounded nearly 500 points from a low of 47,435. The daily trend (50 SMA) is sideways, but the 75-minute and hourly trends are negative. An important level to watch...

PriteshPal Updated 

Yesterday, Nifty entered the near-resistance zone mentioned in our last post and closed at 22,597.90 after hitting a high of 22,629.50. The daily trend (50 SMA) remains sideways, but the 75-minute and hourly trends are positive. Support Levels: Nearest Support: 22,370 - 22,407 Far Support: 22,060 - 22,142 Resistance Levels: Nearest Resistance: 22,606 - 22,674...

PriteshPal

Yesterday, BankNifty reacted from the supply zone mentioned in our previous post and closed below the previous day's low, indicating selling pressure in banking stocks. Support Levels: Nearest Small Support: 47,770 - 47,840 Far Support: 47,346 - 47,542 Resistance Levels: Small Resistance: 48,210 - 48,260 Major Resistance Zone: 48,213 - 48,458 (remains the...

PriteshPal

Yesterday, Nifty continued its upward journey and crossed 22,588. However, it couldn't surpass or close above 22,600, indicating selling pressure at higher levels. Support Levels: Nearest Support: 22,370 - 22,407 Far Support: 22,060 - 22,142 Resistance Levels: Nearest Resistance: 22,606 - 22,674 Far Resistance: 22,755 - 22,795

PriteshPal Updated 

Nifty is currently within the daily supply zone at 22409 to 22589, as mentioned earlier. Despite this, the trend on the weekly chart remains positive. A decisive crossover and close above 22600 could propel Nifty to new highs in the coming days. On the downside, the nearest support zone is identified between 22060 and 22142, with a farther support zone extending...

PriteshPal Updated 

BankNifty traded sideways yesterday after breaking the psychological level of 48000. The nearest support zone is identified between 47770 and 47840, with a farther support zone extending from 47482 to 47542. On the resistance side, the nearest level is between 48213 and 48458, while a more distant resistance level is seen at 48784 to 49011.

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BankNifty has entered the supply zone mentioned yesterday, ranging from 48051 to 48146. If BankNifty breaks above 48150, the nearest resistance zone remains at 48222 to 48457. On the downside, the nearest support zone is identified between 47160 and 47293, with a further support zone extending from 46870 to 47015.

PriteshPal

Nifty found support in the demand zone between 22132 and 22071, dipping to a low of 22054.55 before bouncing back nearly 400 points to enter the supply zone at 22409 to 22589. As Nifty currently sits at the 50% retracement level of its recent 1000-point fall (from 22794 to 21821), it will be interesting to see how it reacts from these levels. The nearest...