BankNifty Intraday Support & Resistance Levels for 27.08.2024
On Monday, BankNifty opened with a gap up, reaching the 125m supply zone and making a high of 51317.85, which aligns with the 61.8% Fibonacci retracement level. It then dropped 200 points from the top before closing at 51148.10. The weekly trend (50 SMA) is positive, and the daily trend (50 SMA) is sideways.
Support Levels:
Near Demand/Support Zone (15m): 50904 - 50965
Far 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 Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 (Tested on Monday)
Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
Support Levels:
Near Demand/Support Zone (15m): 50904 - 50965
Far 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 Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609 (Tested on Monday)
Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
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