PriteshPalan

PriteshPalan

On Thursday, Nifty opened with a gap up, reaching a high of 25,134.05 before pulling back to a low of 24,979.40 in the final 30 minutes of trading. It closed slightly higher at 24,998.45, gaining 16 points from the previous session. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is sideways. Support and resistance zones remain unchanged...

PriteshPalan

On Wednesday, BankNifty opened gap up, briefly crossed the Daily Demand Zone (above 51,420.15) and touched a high of 51,707.15. However, the gains couldn't hold, and it dropped sharply to 50,903.75, closing at 51,007, losing 14 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) continues to be negative. The...

PriteshPalan

On Wednesday, Nifty opened gap up, briefly crossed the Daily Demand zone (above 25,130.50) and reached a high of 25,234.05. However, it couldn't sustain the momentum and dropped to a new day low of 24,947.70, finally closing at 24,981.95, losing 31 points from the previous close. Keep a close watch on the key support level at 61.8% FIBO (24,804.25). The Weekly...

PriteshPalan

On Tuesday, BankNifty opened gap up and finally showed some bullish momentum after six days of downtrend, reaching a high of 51,176.05. It closed at 51,021, gaining 542 points from the previous close. The Weekly Trend (50 SMA) is sideways, while the Daily Trend (50 SMA) remains negative. Though BankNifty broke the daily demand zone (below 50,369.40) on Monday, it...

PriteshPalan

On Tuesday, Nifty opened with a gap up, as expected, finding support near the 61.8% FIBO level (24,804.25). It made a high of 25,044 and closed at 25,013.15, gaining 217 points from the previous session. If Nifty breaks and sustains above 25,143, we might see a bullish rally that could extend to 25,420 or even 25,739. The Weekly Trend (50 SMA) remains positive,...

PriteshPalan

On Monday, BankNifty opened with a gap up, reaching a high of 51,784.80, but couldn't hold its gains and dropped 1,590 points from the peak, hitting a low of 50,194.30. It finally closed at 50,478.90, down by 983 points from the previous session. The Weekly Trend (50 SMA) has shifted to sideways from positive, while the Daily Trend (50 SMA) has turned negative....

PriteshPalan

On Monday, Nifty opened with a gap up and touched a high of 25,143, but the momentum couldn’t hold. It fell sharply, dropping 449 points from the top and hitting a low of 24,694.35. Nifty eventually closed at 24,795.75, losing 218 points from the previous session. Despite briefly breaking below the key support of 24,753, it managed to close above it. If Nifty...

PriteshPalan

On Friday, BankNifty opened gap down but quickly recovered, reaching a high of 52,358.35, entering the 15-minute Supply Zone highlighted in the previous post. However, it faced strong selling pressure at that level and plunged 1,000 points from the day’s high, hitting a low of 51,347.25. BankNifty broke through the near Daily Demand Zone and entered the Far Daily...

PriteshPalan

On Friday, Nifty opened gap down but managed a brief recovery, hitting a high of 25,485.05 before facing resistance at the 15-minute Supply Zone mentioned in the previous post. The index then reversed sharply, dropping 500 points from the day’s high to a low of 24,966.80. It closed at 25,014.60, losing 235 points from the previous session. Currently, Nifty is...

PriteshPalan

On Thursday, BankNifty opened gap down and faced intense selling pressure, diving deep into the daily demand zone. It hit a low of 51,683.40 before closing at 51,845.20, losing a significant 1,077 points from the previous close. While the Weekly Trend (50 SMA) remains positive, the Daily Trend (50 SMA) has shifted to sideways, indicating a potential change in...

PriteshPalan

On Thursday, Nifty faced heavy selling pressure, opening gap down and failing to hold the near daily demand zone. It hit a low of 25,230.30 before closing at 25,250.10, losing a massive 546 points from the previous close. While the Weekly Trend (50 SMA) remains positive, the Daily Trend (50 SMA) has shifted to sideways from positive, indicating potential caution...

PriteshPalan

On Tuesday, BankNifty opened gap down, bounced to a high of 53,235.25, and fell to a low of 52,817.80 before closing at 52,922.60, losing 55 points from the previous close. It broke the 125m Demand zone (52,847.90 - 53,136.10) mentioned in the last post, but managed to close inside the zone. As highlighted earlier, if BankNifty breaks below 52,847 with volume and...

PriteshPalan

On Tuesday, Nifty opened with a gap down, hitting a high of 25,907.60 before dropping to a low of 25,739.20. It ultimately closed nearly flat at 25,796.90, losing just 13 points from the previous close. The Weekly and Daily Trends (50 SMA) remain positive. The Demand and Supply zones for Nifty are unchanged from the last post. Demand/Support Zones: Near...

PriteshPalan

On Monday, BankNifty opened with a gap down and, under selling pressure, broke the 30-minute demand zone, closing within the 125-minute demand zone mentioned in the previous post. If BankNifty breaks below 52,847 with volume and sustains, we could see further downside towards 52,285. BankNifty closed at 52,978.1, losing 856 points from the previous close. The...

PriteshPalan

On Monday, Nifty opened gap down and continued to face selling pressure, breaking the 75-minute support zones mentioned in the previous post. It closed at 25,810.80, losing 368 points from the previous close. Both the Weekly and Daily Trends (50 SMA) have turned from overbought to positive. Demand/Support Zones: Near Demand/Support Zone (Daily): 25,285.55 -...

PriteshPalan

On Friday, BankNifty opened 36 points lower and failed to recover, dropping over 600 points due to selling pressure in banking stocks. It closed at 52,834.30, losing 541 points from the previous close. Both the Weekly and Daily Trends (50 SMA) remain positive. On the weekly chart, BankNifty formed a gravestone doji, which could indicate a potential trend reversal...

PriteshPalan

On Friday, Nifty opened with a gap up, hitting a new all-time high of 26,277.35. However, some profit booking led to a drop of 125 points from the top, with Nifty closing at 26,178.95, losing 37 points from the previous close. Both the Weekly and Daily Trends (50 SMA) remain overbought. Demand/Support Zones: Near Demand/Support Zone (75 min): 26,035.65 -...

PriteshPalan

On Thursday, BankNifty hit a new all-time high of 54,467.35 and closed at 54,375.35, gaining 273 points from the previous close. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) has shifted to overbought from positive. Demand/Support Zones: Near Demand/Support Zone (30 min): 54,085.15 - 54,189.15 Far Demand/Support Zone (30 min):...