BankNifty opened with a gap-up at 50,179 yesterday, landing inside the 15m supply zone (50,129 - 50,227) mentioned previously. This caused selling pressure, leading to a close at almost the day's low of 49,846.70. The weekly trend (50 SMA) remains positive, while the daily trend is sideways.
Support Levels:
Near Support/Demand Zone (15m Tested): 49,728 - 49,860 (This zone has been tested multiple times)
Far Small Support/Demand Zone (15m): 49,225 - 49,451
Far Support Zone (15m): 48,801 - 49,055 (This zone has been tested multiple times)
Resistance Levels:
Major Resistance/Supply Zone (Daily): 50,092 - 51,133.20
Note: Lower time frame tested zones are less reliable in terms of strength.
Support Levels:
Near Support/Demand Zone (15m Tested): 49,728 - 49,860 (This zone has been tested multiple times)
Far Small Support/Demand Zone (15m): 49,225 - 49,451
Far Support Zone (15m): 48,801 - 49,055 (This zone has been tested multiple times)
Resistance Levels:
Major Resistance/Supply Zone (Daily): 50,092 - 51,133.20
Note: Lower time frame tested zones are less reliable in terms of strength.
