On Monday, BankNifty entered the 75m and daily demand zones, bouncing 500 points from the day's low before closing at 52880.40. A decisive crossover above 52750 with volume might lead to a new all-time high. The weekly and daily trends (50 SMA) are still positive. As mentioned in the last post, the support and resistance levels remain the same.
Support Levels: Near support/demand zone (75m) for weekly trade: 51749 - 51966 Major support/demand zone (Daily): 51138 - 51934
Resistance Levels: Near small supply/resistance zone (15m): 52482 - 52563 Far supply/resistance zone (30m): 53064 - 53188