On Thursday, BankNifty opened with a gap up, hit a high of 51,930.20, and then dropped over 750 points to a low of 51,150.25. It closed at 51,288.80, losing 512 points from the previous close. Despite entering the 125m Demand Zone (51,005.85 - 51,246.50) mentioned earlier, the Daily trend remains bearish. If BankNifty breaks below the 51,000 level with volume and sustains, a further drop toward 49,959 or lower could be on the horizon. The Weekly Trend (50 SMA) is still positive, but the Daily Trend (50 SMA) is negative.
BankNifty Demand/Support Zones for 18.10.2024: Near Demand/Support Zone (125m): 51,005.85 - 51,246.50 (Tested on Thursday) Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25 Far support: 49,282.65 (61.8% FIBO Level)
BankNifty Supply/Resistance Zones for 18.10.2024: Near Supply/Resistance Zone (125m): 51,767.30 - 52,031.60 Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35 Far Supply/Resistance Zone (15m): 52,417.40 - 52,562.70 Near Supply/Resistance Zone (Daily): 52,817.80 - 53,235.
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.