PriteshPalan

PriteshPalan

On Friday, BankNifty opened gap-up, touched a high of 51,628.45, and dropped to a low of 51,240.10 before recovering slightly to close at 51,311.30, gaining 140 points over the previous close. The Weekly Trend (50 SMA) continues to remain sideways, while the Daily Trend (50 SMA) is negative. Demand/Support Zones Near Demand/Support Zone (15m): 50,688 -...

PriteshPalan

On Friday, Nifty opened with a gap-up at 23,801.40, briefly dipped to a low of 23,800.60, and climbed to a high of 23,938.85, entering the 75m supply zone. However, selling pressure pushed it back down to close at 23,813.40, securing a modest gain of 63 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is...

PriteshPalan

On Thursday, BankNifty opened gap-up, climbing to a high of 51,740 before facing resistance and dipping to a low of 50,951.80. It closed the session at 51,170.70, losing 62 points over the previous close. While the Weekly Trend (50 SMA) remains sideways, the Daily Trend (50 SMA) continues to be negative. Demand/Support Zones Near Demand/Support Zone (15m): 50,688...

PriteshPalan

On Thursday, Nifty opened gap-up, reaching a high of 23,854.50 before dipping to a low of 23,653.60. It ended the session at 23,750.20, gaining 22 points over the previous close. While the Weekly Trend (50 SMA) remains sideways, the Daily Trend (50 SMA) continues to be negative. Demand/Support Zones Near Demand/Support Zone (15m): 23,537.35 - 23,632.30 Near...

PriteshPalan

On Tuesday, BankNifty opened flat and made a high of 51,382.10 and a low of 51,137.50 within the first half hour. For the rest of the session, it remained range-bound. It closed at 51,233, losing 84 points. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative. Demand/Support Zones Near Demand/Support Zone (15m): 50,688 -...

PriteshPalan

On Tuesday, Nifty opened flat to positive, climbing to a high of 23,867.65 as it entered the 15m supply zone. However, selling pressure pulled it back to a low of 23,685.15. It ended the day at 23,727.65, losing 25 points. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative. Demand/Support Zones Near Demand/Support Zone (15m):...

PriteshPalan

On Monday, BankNifty opened with a gap-up, touching a low of 51,030.40 before climbing to a high of 51,417.35. It closed positively at 51,317.60, gaining 558 points. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative. Demand/Support Zones Near Demand/Support Zone (15m): 50,688 - 50,909 Near Demand/Support Zone (Daily):...

PriteshPalan

On Monday, Nifty opened with a gap-up, climbing to a high of 23,869.55 before dipping to a low of 23,647.20. It eventually closed at 23,753.45, gaining 165 points over the previous close. While the Weekly Trend (50 SMA) remains sideways, the Daily Trend (50 SMA) is negative. Demand/Support Zones Near Demand/Support Zone (15m): 23,537.35 - 23,632.30 Near...

PriteshPalan

On Friday, BankNifty opened with a gap-down, climbing to a high of 51,629 before plummeting nearly 1,000 points to a day low of 50,609.35, entering the Daily Demand Zone. It closed negative for the 4th straight session at 50,759.20, losing 816 points. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) has turned negative. Demand/Support...

PriteshPalan

On Friday, Nifty opened flat to positive and climbed to a high of 24,065.80, briefly crossing the previous day’s high. However, heavy selling pressure pushed it to a day low of 23,537.35, entering the 75m Demand Zone mentioned earlier. It closed negative for the 5th consecutive session at 23,587.50, losing 364 points. While the Weekly Trend (50 SMA) remains...

PriteshPalan

As the selling pressure in Nifty persists, the big question is: will it reverse course and hit new highs, or are we heading for a deeper downturn in 2025? Let’s set aside the noise about why FIIs are selling, DIIs buying, or other market triggers, and focus on what the charts are telling us. What the Charts Say After reaching an all-time high of 26,277.35 on...

PriteshPalan

On Thursday, BankNifty opened with a significant gap-down, dropping to a low of 51263.75, entering the 125m Demand Zone and taking support near the 61.8% Fibonacci retracement level. It managed a slight recovery, reaching a high of 51789.85, but closed negative for the third consecutive session at 51575.70, losing 563 points. The Weekly Trend (50 SMA) has turned...

PriteshPalan

On Thursday, Nifty opened with a huge gap-down, touching a low of 23870.30, taking support near the 61.8% Fibonacci retracement level, and slightly recovering to a high of 24004.90. It ended the session at 23951.70, breaking below the critical 24000 psychological mark, losing 247 points. This marks the fourth consecutive negative session. Both the Weekly Trend (50...

PriteshPalan

On Wednesday, BankNifty opened negative, reached a high of 52827.60, but slipped to a low of 52010.65, entering the Daily Demand Zone. It ended the day at 52139.55, down by 695 points, marking its second consecutive losing session. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) has shifted to sideways. Demand/Support Zones Near...

PriteshPalan

On Wednesday, Nifty opened negative, touched a high of 24394.45, but couldn’t sustain it and fell to a low of 24149.85. It ended the day at 24198.85, marking its third consecutive losing session, with a loss of 137 points. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) are currently sideways. Demand/Support Zones Near Demand/Support Zone (Daily):...

PriteshPalan

On Tuesday, BankNifty opened negative, hit a high of 53515.70, and dropped sharply to a low of 52709.40. It closed flat at 52834.80, losing 746 points over the previous close. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain positive. Demand/Support Zones Near Demand/Support Zone (75m): 52264.55 - 52665.15 Far Demand/Support Zone (Daily): 51693.95 -...

PriteshPalan

On Tuesday, Nifty opened with a gap-down, made a high of 24624.10, and dropped to a low of 24303.45, entering the 15m Demand Zone. It closed at 24336, losing 332 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) has shifted from positive to sideways. Demand/Support Zones Near Demand/Support Zone (15m):...

PriteshPalan

On Wednesday, Nifty opened flat to positive, tested a low of 24583.85 and a high of 24691.75 during the session. It closed at 24641.80, gaining 31 points over the previous close. While the Weekly Trend (50 SMA) remains sideways, the Daily Trend (50 SMA) is positive, indicating a cautiously optimistic outlook. Demand/Support Zones Near Demand/Support Zone (30m):...