BankNifty Intraday Support & Resistance Levels for 12.12.2024
On Wednesday, BankNifty opened negative and traded in a volatile range. It touched a low of 53302.15 before recovering to a high of 53648.05, ultimately closing at 53392.25, losing 185 points over the previous close. The Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain positive.
Demand/Support Zones
Near Demand/Support Zone (125m): 52563.20 - 52780.90
Far Demand/Support Zone (Daily): 51693.95 - 52197.25
Far Demand/Support Zone (125m): 51693.95 - 51906.90
Far Demand/Support Zone (Daily): 49787.10 - 50983.50
Supply/Resistance Zones
Near Supply/Resistance Zone (Weekly): 53741.40 - 54467.35 (Tested)
Key Insights
Resistance at 53750: BankNifty continues to face resistance near this level. A decisive breakout could pave the way toward 54400 and beyond.
Support at 52780: Watch for demand near this zone; a breach could signal further downside toward 52200.
Demand/Support Zones
Near Demand/Support Zone (125m): 52563.20 - 52780.90
Far Demand/Support Zone (Daily): 51693.95 - 52197.25
Far Demand/Support Zone (125m): 51693.95 - 51906.90
Far Demand/Support Zone (Daily): 49787.10 - 50983.50
Supply/Resistance Zones
Near Supply/Resistance Zone (Weekly): 53741.40 - 54467.35 (Tested)
Key Insights
Resistance at 53750: BankNifty continues to face resistance near this level. A decisive breakout could pave the way toward 54400 and beyond.
Support at 52780: Watch for demand near this zone; a breach could signal further downside toward 52200.
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