BankNifty Intraday Support & Resistance Levels for 22.11.2024

On Thursday, BankNifty opened flat, reaching a high of 50,652.15 before falling to a day low of 49,787.10 in the first 30 minutes, once again testing the Daily Demand Zone (49,654.65 - 49,959.25). It managed to recover slightly, closing at 50,372.90, down by 253 points from the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative.

With the demand zone being tested for the third time, it’s crucial to watch if BankNifty can hold this support to prevent further downside.

Demand/Support Zones
Near Support Zone (Daily): 49,654.65 - 49,959.25 (touched thrice)
Far Support: 49,282.65 (61.8% Fibonacci level)
Far Support Zone (Daily): 44,633.85 - 45,750.40

Supply/Resistance Zones
Near Resistance (30m): 50,774.35 - 50,876.45
Far Resistance (75m): 50,805.90 - 50,983.50
Far Resistance (30m): 51,586.35 - 51,874.70
Far Resistance (Daily): 51,562.70 - 52,493.95