On Thursday, BankNifty opened gap down, broke the previous day's low making a new low at 50559.90, and closed at 50888.75, down by 428 points. The weekly trend (50 SMA) remains positive, but the daily trend (50 SMA) is now sideways.
Support Levels:
Major Demand/Support Zone (Weekly): 49530 - 50253
Resistance Levels:
Near Supply/Resistance Zone (15m): 51317 - 51462
Major Supply/Resistance Zone (Daily): 52880 - 53187