BankNifty Intraday Support & Resistance Levels for 24.06.2024
BankNifty had a very volatile session on Friday and closed down 122 points. The weekly trend (50 SMA) remains positive, while the daily trend is still sideways.
Support Levels:
Near Support/Demand Zone (125m): 50,879 - 51,213
Far Support/Demand Zone (15m): 50,597 - 50,765
Given that the daily trend is still sideways, taking confirmation entries for long trades in the 125m demand/support zone is advisable.
There is no visible supply/resistance zone on the chart, but selling pressure from higher levels is expected.
Support Levels:
Near Support/Demand Zone (125m): 50,879 - 51,213
Far Support/Demand Zone (15m): 50,597 - 50,765
Given that the daily trend is still sideways, taking confirmation entries for long trades in the 125m demand/support zone is advisable.
There is no visible supply/resistance zone on the chart, but selling pressure from higher levels is expected.
