PriteshPalan

PriteshPalan

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...

PriteshPalan

BankNifty maintains stability with no changes in the support and resistance levels outlined in the previous post. The near support zone persists between 47160 and 47293, accompanied by a far support zone ranging from 46870 to 47015. Similarly, the nearest resistance zone for BankNifty remains unchanged, positioned at 48051 to 48146, with a more distant resistance...

PriteshPalan

Nifty reacted from the 75-minute supply zone highlighted in the previous post, reaching a low of 22151.75 before closing above the 22200 mark. The nearest support zone is identified between 22132 and 22071, with a further support zone extending from 21934 to 21979. On the resistance front, the closest resistance is anticipated between 22409 and 22589.

PriteshPalan

BankNifty traded relatively flat today, confined within a range of 300 to 350 points. The near support zone is identified between 47160 and 47293, with a further support zone extending from 46870 to 47015. Meanwhile, the nearest resistance zone for BankNifty remains unchanged, situated at 48051 to 48146, with a more distant resistance observed between 48222 and 48457.

PriteshPalan

Nifty encountered resistance within the 75-minute supply zone identified between 22244 and 22369, as mentioned in the previous post, resulting in a minor downward reaction. Further downside movement is anticipated, with expectations of a decline towards the support zone located at 22132 to 22071. Additionally, a distant support zone is identified at 21934 to...

PriteshPalan

BankNifty found substantial support within the second support zone highlighted in the previous post, triggering a remarkable rally of over 800 points from the day's low. The near support zone remains unchanged, spanning from 46870 to 47015, with a further support level observed at 46547, a significant Fibonacci level at 61.8%. On the resistance front, the nearest...

PriteshPalan

Nifty found support within the 21800 to 21850 zone and staged a commendable recovery, rallying nearly 300 points from the day's low. The nearest resistance levels are anticipated between 22148 and 22187, as well as between 22244 and 22369, with a further resistance zone identified at 22409 to 22589. Meanwhile, the nearest support remains unchanged from the last...

PriteshPalan

BankNifty found support within the first support zone mentioned in the previous post; however, the rebound was not significant, signaling prevailing selling pressure in the market. The immediate support is identified between 47204 and 47345, with a further support zone extending from 46870 to 47015. Additionally, an essential Fibonacci level at 61.8%, situated at...

PriteshPalan

Nifty found support within the previously mentioned zone, prompting a modest rebound. However, caution prevails as the market appears to be adopting a "Sell on Rise" stance at present. The nearest resistance is expected between 22148 and 22187, with further resistance observed at 22244 to 22369. Meanwhile, the nearest support remains unchanged from the last post,...

PriteshPalan

BankNifty faced a notable downturn as it breached the support level of 47737 and closed below, signalling market weakness and potential further downside. Any bounce observed might serve as an opportunity for a "Sell on Rise" strategy. The immediate support lies within the range of 47204 to 47345, while the closest resistance zone for BankNifty is positioned...

PriteshPalan

Nifty encountered a downward move, breaching the first support level highlighted yesterday and reaching the second support zone between 21850 and 21937. Although there might be a slight rebound in sight, indicated by GIFTNifty signalling a potential GAP UP opening, caution is advised as the market appears to be in "Sell on Rise" mode. The nearest resistance levels...

PriteshPalan

BankNifty had a tough time as it broke below the important support at 48088, signalling trouble for bullish traders. Now, the focus shifts to the next support at 47737.20, which was the low point from April 25th. If it breaks too, attention will be on the support range between 47204 and 47345. On the flip side, immediate resistance is expected around 48465, with...

PriteshPalan

Nifty ended the day at the same levels as yesterday, at 22302.50. The closest support or demand area lies between 22102 and 22179, while a bit further down, another support zone ranges from 21850 to 21937. On the other hand, the nearest resistance zone is between 22444 and 22494, with a more distant one stretching from 22755 to 22794. Traders will be watching...

PriteshPalan

BankNifty is hanging around a critical support area from 48088 to 48359, within a 75-minute timeframe. The big question is whether it will bounce back from this support or break down. On the flip side, the nearest resistance area is between 48784 and 49024. Yesterday, BankNifty closed at 48285.35, signalling a shift towards a neutral to bearish trend since it...

PriteshPalan

Today, Nifty's support area is between 22102 and 22179, while its resistance is between 22444 and 22494. Nifty ended yesterday at 22302.50, showing an important change in its trend. The overall feeling is turning bearish because the Nifty went below the lows of the last nine days and closed there. Traders and investors need to keep an eye on these levels as they...