BankNifty Intraday Support & Resistance Levels for 05.11.2024

4 nov. 2024

On Monday, BankNifty opened on a high note, with Open = High at 51,729.90, before dropping over 650 points to a low of 51,070.65. It closed at 51,215.25, down by 458 points from the previous close. Both the Weekly and Daily Trends (50 SMA) remain sideways, suggesting caution in both directions.

Demand/Support Zones
Near Minor Demand/Support (30m): 50,798.45 - 50,888.95
Near Minor Demand/Support (15m): 50,382.10 - 50,485.15
Far Demand/Support (Daily): 49,654.65 - 49,959.25
Extended Support: 49,282.65 (61.8% FIBO Level)
Far Demand/Support (Daily): 44,633.85 - 45,750.40

Supply/Resistance Zones
Near Supply/Resistance (30m): 51,634.50 - 51,793.50
Near Supply/Resistance (15m): 52,264.05 - 52,349.45
Extended Supply/Resistance (Daily): 52,817.80 - 53,235.25
Far Supply/Resistance (Weekly): 53,741.40 - 54,467.35

5 nov. 2024

Note

Update - BankNIfty beautifully reacted from 30m Demand Zone (50,798.45 - 50,888.95) and rallied 1000+ points from the day low.