BankNifty Support & Resistance Levels for 22.05.2024

Yesterday, BankNifty reacted from the supply zone mentioned in our previous post and closed below the previous day's low, indicating selling pressure in banking stocks.

Support Levels:
Nearest Small Support: 47,770 - 47,840
Far Support: 47,346 - 47,542

Resistance Levels:
Small Resistance: 48,210 - 48,260
Major Resistance Zone: 48,213 - 48,458 (remains the same)
More Distant Resistance: 48,784 - 49,011