On Tuesday, BankNifty opened with a gap up and rallied to a high of 52,354.85, breaking the tested 75m Supply Zone and entering the Daily Supply Zone. It closed strong at 52,320.70, gaining a remarkable 1,061 points over the previous close. Weekly Trend (50 SMA) remains sideways, as does the Daily Trend.
Demand/Support Zones:
Near Demand/Support Zone (15m): 51,796.15 - 51,969.50
Near Demand/Support Zone (15m): 51,376.60 - 51,517.85
Near Demand/Support Zone (Daily): 49,654.65 - 49,959.25
Far Support: 49,282.65 (61.8% FIBO Level)
Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40
Supply/Resistance Zones:
Near Supply/Resistance Zone (Daily): 51,855.15 - 52,577.50 (currently in this zone)
Far Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25
Far Supply/Resistance Zone (Weekly): 53,741.40 - 54,467.35