BankNifty Intraday Support & Resistance Levels for 28.11.2024
On Wednesday, BankNifty started on a weak note but quickly recovered. It made a low of 52019.65 before rallying to a high of 52444.35. It closed at 52301.80, gaining 110 points from the previous close.
Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways, reflecting a range-bound market. The index is currently trading within a critical supply zone, which may determine its next move.
Demand/Support Zones
Near Demand/Support Zone (30m): 51040.05 - 51271.50
Far Small Demand/Support Zone (15m): 50609.75 - 50824.55
Far Support: 49282.65 (61.8% FIBO Level)
Far Demand/Support Zone (Daily): 44633.85 - 45750.40
Supply/Resistance Zones
Near Supply/Resistance Zone (Daily): 51294.20 - 52493.95 (current price inside this zone)
Far Supply/Resistance Zone (Daily): 52817.80 - 53235.25
Far Supply/Resistance Zone (Weekly): 53741.40 - 54467.35
Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways, reflecting a range-bound market. The index is currently trading within a critical supply zone, which may determine its next move.
Demand/Support Zones
Near Demand/Support Zone (30m): 51040.05 - 51271.50
Far Small Demand/Support Zone (15m): 50609.75 - 50824.55
Far Support: 49282.65 (61.8% FIBO Level)
Far Demand/Support Zone (Daily): 44633.85 - 45750.40
Supply/Resistance Zones
Near Supply/Resistance Zone (Daily): 51294.20 - 52493.95 (current price inside this zone)
Far Supply/Resistance Zone (Daily): 52817.80 - 53235.25
Far Supply/Resistance Zone (Weekly): 53741.40 - 54467.35
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