On Thursday, BankNifty attempted for the third time this week to break above the 51316 level (61.8% FIBO Retracement). It reached a high of 51368.95 but failed to sustain and closed at 51152.75. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways.
Support Levels:
Near Demand/Support Zone (30m): 50663 - 50772
Far Demand/Support Zone (30m): 50393 - 50507
Far Demand/Support Zone (30m): 49806 - 50017
Far Demand/Support Zone (125m): 49681 - 49797
Resistance Levels:
Near Resistance Level: 51316 (61.8% FIBO Retracement level)
Near Supply/Resistance Zone (15m): 51303 - 51369
Near Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 (Already Tested)
Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
Support Levels:
Near Demand/Support Zone (30m): 50663 - 50772
Far Demand/Support Zone (30m): 50393 - 50507
Far Demand/Support Zone (30m): 49806 - 50017
Far Demand/Support Zone (125m): 49681 - 49797
Resistance Levels:
Near Resistance Level: 51316 (61.8% FIBO Retracement level)
Near Supply/Resistance Zone (15m): 51303 - 51369
Near Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 (Already Tested)
Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.