BankNifty Intraday Support & Resistance Levels for 03.07.2024
BankNifty bounced from the 15m Demand Zone mentioned in the last post, rallying over 200 points from the day's low. However, selling pressure in most BankNifty constituents (except HDFCBANK) closed 406 points down at 52,168.10. Both the weekly and daily trends (50 SMA) remain positive.
Support Levels:
Near Support/Demand Zone (75m): 51,510 - 51,784
Major Support/Demand Zone (Daily): 51,138 - 51,934
Resistance Levels:
Near Minor Resistance/Supply Zone (5m): 52,374 - 52,472
Far Resistance/Supply Zone (15m): 53,060 - 53,181
Keep an eye on 52,735 in the 15m chart; any big green candle above this level may signal the start of a bull rally if sustained.
Support Levels:
Near Support/Demand Zone (75m): 51,510 - 51,784
Major Support/Demand Zone (Daily): 51,138 - 51,934
Resistance Levels:
Near Minor Resistance/Supply Zone (5m): 52,374 - 52,472
Far Resistance/Supply Zone (15m): 53,060 - 53,181
Keep an eye on 52,735 in the 15m chart; any big green candle above this level may signal the start of a bull rally if sustained.
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