PriteshPalan

PriteshPalan

On Tuesday, Nifty opened with a gap up but failed to surpass the previous day's high, trading within a narrow range throughout the day and closing flat at 25279.85. The weekly trend (50 SMA) is overbought, and the daily trend (50 SMA) remains positive. Currently GIFT NIFTY is trading 200 points lower, indicating a potential gap-down opening today. Support...

PriteshPalan

On Monday, BankNifty opened with a gap up, reaching an open-high of 51579.50 before closing at 51439.55. BankNifty is now above the 51316 level, which is the 61.8% FIBO retracement. If it sustains above this level, we might see a rally towards 51750 and beyond. The weekly trend (50 SMA) is positive, while the daily trend (50 SMA) remains sideways. Support...

PriteshPalan

On Monday, Nifty opened with a gap up, hitting a new all-time high of 25333.65, which was also the open and high for the day, before closing at 25278.70. The weekly trend (50 SMA) is overbought, while the daily trend (50 SMA) remains positive. Support Levels: Near Minor Demand/Support Zone (30m): 25117 - 25165 Near Demand/Support Zone (15m): 25003 - 25047 Near...

PriteshPalan

On Friday, BankNifty opened with a gap up, reaching a high of 51466.55 before closing at 51351. With BankNifty now above the 51316 level (61.8% FIBO retracement), sustained trading above this level could trigger a rally towards 51750 and beyond. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near Minor...

PriteshPalan

On Friday, Nifty opened with a gap up, reaching a new all-time high of 25268.35 before closing at 25235.90. The weekly trend (50 SMA) has shifted from positive to overbought, while the daily trend (50 SMA) remains positive. Support Levels: Near Minor Demand/Support Zone (15m): 25003 - 25047 Near Demand/Support Zone (Daily): 24771 - 24859 Near Demand/Support Zone...

PriteshPalan

On Thursday, BankNifty attempted for the third time this week to break above the 51316 level (61.8% FIBO Retracement). It reached a high of 51368.95 but failed to sustain and closed at 51152.75. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (30m): 50663 - 50772 Far Demand/Support...

PriteshPalan

On Thursday, Nifty experienced a highly volatile trading session, taking support twice at the 15m Demand zone (24988 - 25032) mentioned in the previous post. It reached a new All-Time High of 25192.90 before closing at 25151.95. The weekly trend (50 SMA) remains positive, and the daily trend (50 SMA) has turned positive from sideways. Support Levels: Near Minor...

PriteshPalan Updated 

On Wednesday, Nifty reached a new all-time high of 25129.60, but profit booking in the last trading hour led to a nearly 100-point drop from the peak, closing at 25052.35. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (15m): 24988 - 25032 Near Demand/Support Zone (Daily): 24771 -...

PriteshPalan

On Wednesday, BankNifty opened with a gap down and remained in a narrow range throughout the day, closing at 51143.85, down by 134 points. The weekly trend (50 SMA) is positive, and the daily trend (50 SMA) remains sideways. Support Levels: Far Demand/Support Zone (30m): 50663 - 50772 Far Demand/Support Zone (30m): 50393 - 50507 Far Demand/Support Zone (30m):...

PriteshPalan

On Tuesday, BankNifty opened with a gap up, dipped to a low of 50938.10, touching the 15-minute demand zone mentioned in the previous post, and then bounced back to a high of 51404.70. However, due to selling pressure in the last trading hour, it closed at 51278.75. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support...

PriteshPalan

On Tuesday, Nifty reached a high of 25073.10, just 5 points shy of its all-time high of 25078.30, before closing at 25017.75. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. The demand and support zones remain unchanged from the previous post. Support Levels: Near Demand/Support Zone (Daily): 24771 - 24859 Near...

PriteshPalan

On Monday, BankNifty opened with a gap up, reaching the 125m supply zone and making a high of 51317.85, which aligns with the 61.8% Fibonacci retracement level. It then dropped 200 points from the top before closing at 51148.10. The weekly trend (50 SMA) is positive, and the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (15m): 50904 -...

PriteshPalan

On Monday, Nifty opened with a gap up, reaching a high of 25043.80 before closing at 25010.60, gaining 187 points. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. Support Levels: Near Demand/Support Zone (Daily): 24771 - 24859 Near Demand/Support Zone (125m) for Weekly Trade: 24543 - 24605 Far Demand/Support Zone (75m) for...

PriteshPalan

On Friday, BankNifty reached a high of 51117.85 but retraced to close at 50933.45. Despite breaking above the 75m supply zone, BankNifty closed inside the zone. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways. The demand and supply zones are unchanged from the previous post. Support Levels: Near Demand/Support Zone (30m):...

PriteshPalan

On Friday, Nifty opened with a gap up and remained within a narrow 100-point range throughout the day, closing at 24823.15 with a modest gain of 11 points. Despite breaking above the 75m supply zone, Nifty has closed inside this zone for the third consecutive day. The weekly trend (50 SMA) is positive, while the daily trend (50 SMA) remains sideways. The demand...

PriteshPalan

On Thursday, BankNifty opened with a gap up, reaching a high of 51080 before closing at 50985.70. Despite breaking through the 75m supply zone mentioned in the last post, BankNifty still ended the day within that zone. The weekly trend (50 SMA) remains positive, and the daily trend (50 SMA) has turned sideways. Support Levels: Near Demand/Support Zone (30m):...

PriteshPalan

On Thursday, Nifty opened with a gap up and stayed positive throughout the day but couldn't surpass the opening high of 24867.35. Although it initially broke through the 75m supply zone mentioned in the last post, Nifty closed at 24811.50, which is still within the supply zone. The weekly trend (50 SMA) remains positive, and the daily trend (50 SMA) is...

PriteshPalan

On Wednesday, BankNifty opened with a gap down but found support at the 30m Demand Zone mentioned in the last post, rallying to a day high of 50772.45 before closing at 50685.55. The weekly trend (50 SMA) remains positive, and the daily trend (50 SMA) has shifted from negative to sideways. Support Levels: Near Demand/Support Zone (30m): 49806 - 50017 Far...