BankNifty Intraday Support & Resistance Levels for 18.12.2024

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 - 52197.25
Far Demand/Support Zone (125m): 51693.95 - 51906.90

Supply/Resistance Zones
Near Supply/Resistance Zone (15m): 53159.20 - 53276.55
Near Supply/Resistance Zone (30m): 53489.70 - 53675.05
Far Supply/Resistance Zone (Weekly): 53741.40 - 54467.35 (tested)

Key Insights
BankNifty is oscillating between key support and resistance levels. Immediate support lies in the 75m Demand Zone at 52265 - 52665, while resistance is seen in the 30m Supply Zone at 53490 - 53675.
A decisive move beyond these levels could provide clarity on the next trend. Stay focused and plan your trades wisely!