BANKNIFTY INDEX FUTURES (Dec 2020) Forum & Chats (NSE:BANKNIFTYZ2020)

6 hours ago

Support is 55068, I think it will maintain and go to 56000 today.

BankNifty-NSE INDEX Daily Analysis Based on Main Key Levels – [18 April 2025] 📈

Daily Current Market Price (DCMP): 52,771

Key Levels Summary 🎯

Above DCMP (Resistance): 53,182 (R1), 53,346 (R2), 53,610 (R3)
Below DCMP (Support): 52,531 (S3), 52,227 (S3 Fib), 51,839 (S1)

📊 Technical Snapshot

Pivot Levels:
Weekly Pivot: 52,917
Critical Support: 52,531 (S3 Weekly Pivot)

Swing Levels:

Swing High: 50,641 (Daily timeframe)
Swing Low: 47,702 (14 Nov 2024)
Fibonacci Retracement:

Key Support Zone: 52,227–51,839 (61.8%–78.6% Fib)

Momentum Indicators:

RSI: Neutral (no divergence observed)
MACD: Bullish crossover on 4H timeframe.

🚀 Intraday Trade Setup

Intraday Buy Trade ✅

Entry: 52,531 📍 (Weekly S3 Pivot)
Stop Loss: 52,227 🔴 (Below Fib 61.8%)
Take Profit 1: 52,917 🟢 (Weekly Pivot)
Take Profit 2: 53,182 🟢 (Daily R1)

Rationale:
Strong confluence at 52,531 (weekly S3 + historical support).
MACD bullish crossover aligns with bounce potential.

Intraday Sell Trade 🚫

No valid setup above DCMP. Avoid fresh shorts until price closes above 53,182 (Daily R1).

Critical Remarks 🔍

Immediate Bias: Neutral-to-bullish below 53,182.

Watch For: Break above 52,917 (weekly pivot) to confirm bullish momentum.

Risk Alert: Close below 52,227 invalidates buy setup.