On Monday, BankNifty opened with a gap-up, touching a low of 51,030.40 before climbing to a high of 51,417.35. It closed positively at 51,317.60, gaining 558 points. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is negative.
Demand/Support Zones
Near Demand/Support Zone (15m): 50,688 - 50,909
Near Demand/Support Zone (Daily): 49,787.10 - 50,983.50 (tested)
Far Support Level: 49,282.64 (61.8% FIBO retracement)
Supply/Resistance Zones
Near Supply/Resistance Zone (125m): 52,010.65 - 52,368.30
Far Supply/Resistance Zone (125m): 52,709.40 - 52,911.10
Far Supply/Resistance Zone (Weekly): 53,741.40 - 54,467.35 (tested)
Outlook
As expected, BankNifty showed bullish momentum after entering the Daily Demand Zone on Friday and its oversold condition. If the Daily Demand Zone support holds, we may witness further upside movement toward 52,000 or even 52,700 in the coming days.
Demand/Support Zones
Near Demand/Support Zone (15m): 50,688 - 50,909
Near Demand/Support Zone (Daily): 49,787.10 - 50,983.50 (tested)
Far Support Level: 49,282.64 (61.8% FIBO retracement)
Supply/Resistance Zones
Near Supply/Resistance Zone (125m): 52,010.65 - 52,368.30
Far Supply/Resistance Zone (125m): 52,709.40 - 52,911.10
Far Supply/Resistance Zone (Weekly): 53,741.40 - 54,467.35 (tested)
Outlook
As expected, BankNifty showed bullish momentum after entering the Daily Demand Zone on Friday and its oversold condition. If the Daily Demand Zone support holds, we may witness further upside movement toward 52,000 or even 52,700 in the coming days.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.