BankNifty Intraday Support & Resistance Levels for 13.08.2024

On Monday, BankNifty opened with a minor gap down but rebounded over 650 points from the day's low, reaching a high of 50830.70 before closing at 50577.95, up by 93 points. During the session, BankNifty breached the resistance level of 50750 but could not sustain above it for long. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is negative.

Support Levels:
Near Demand/Support Zone (30m): 50149 - 50305
Major Demand/Support Zone (Weekly): 49530 - 50253
Far Support Level: 48858 (61.8% Fibonacci Retracement Level)

Resistance Levels:
Near Resistance Level: 51750
Far Supply/Resistance Zone (15m): 51325 - 51400 (inside the 125m Supply Zone)
Far Supply/Resistance Zone (125m) for Weekly Trade: 51309 - 51609