BankNifty Intraday Support & Resistance Levels for 21.08.2024
On Tuesday, BankNifty surpassed the 50750 resistance level, reaching a high of 51025 before closing at 50803.15, gaining 434 points. Notably, this is the first time since 2nd August that BankNifty has closed above 50800. The weekly trend (50 SMA) remains positive, and the daily trend (50 SMA) has shifted from negative to sideways.
Support Levels:
Near Demand/Support Zone (30m): 50283 - 50423
Far Demand/Support Zone (30m): 49806 - 50017
Far Support Level: 49660 (Double bottom on the daily chart)
Far Support (FIBO 61.8% Level): 48858
Resistance Levels:
Near Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609
Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
Support Levels:
Near Demand/Support Zone (30m): 50283 - 50423
Far Demand/Support Zone (30m): 49806 - 50017
Far Support Level: 49660 (Double bottom on the daily chart)
Far Support (FIBO 61.8% Level): 48858
Resistance Levels:
Near Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609
Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188
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