BankNifty Intraday Support & Resistance Levels for 30.07.2024

On Monday, BankNifty opened gap up and entered the major daily supply/resistance zone mentioned in the last post. It then fell almost 1200 points from the top due to selling pressure from the daily supply zone, closing at 51406.25 with just a 110-point gain. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) is sideways.

Support Levels:
Near Demand/Support Zone (15m): 51023 - 51082
Near Demand/Support Zone (30m): 50851 - 50951
Near Demand/Support Zone (75m) for weekly trade: 50707 - 50960
Major Demand/Support Zone (Weekly): 49530 - 50253

Resistance Levels:
Small Supply/Resistance Zone (5m): 52238 - 52315
Near Supply/Resistance Zone (15m): 51317 - 51462
Major Supply/Resistance Zone (Daily): 51874 - 52587