On Wednesday, BankNifty opened with a gap down, landing inside the 75m demand zone. It made a low of 51259.90 but managed a slight recovery by the end of the day, closing at 51400.25 (still within the 75m demand zone). The weekly trend (50 SMA) is positive, while the daily trend (50 SMA) remains sideways. Currently, GIFT NIFTY is trading 90 points higher, suggesting a potential gap-up opening today.
Support Levels: Near Demand/Support Zone (75m): 51240 - 51433 (current price inside the zone) Near Minor Demand/Support Zone (15m): 50984 - 51073 Far Demand/Support Zone (30m): 50663 - 50772 Far Demand/Support Zone (30m): 50393 - 50507 Far Demand/Support Zone (30m): 49806 - 50017 Far Demand/Support Zone (125m): 49681 - 49797
Resistance Levels: Near Supply/Resistance Zone (15m): 51665 - 51732 Far Supply/Resistance Zone (30m): 52103 - 52340 Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188