BANKNIFTY1! BankNifty-NSE INDEX Daily Analysis Based on Main Key Levels โ [18 April 2025] ๐
Daily Current Market Price (DCMP): 52,771
Key Levels Summary ๐ฏ
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)
๐ 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: 52,227โ51,839 (61.8%โ78.6% Fib)
Momentum Indicators:
RSI: Neutral (no divergence observed)
MACD: Bullish crossover on 4H timeframe.
๐ Intraday Trade Setup
Intraday Buy Trade โ
Entry: 52,531 ๐ (Weekly S3 Pivot)
Stop Loss: 52,227 ๐ด (Below Fib 61.8%)
Take Profit 1: 52,917 ๐ข (Weekly Pivot)
Take Profit 2: 53,182 ๐ข (Daily R1)
Rationale:
Strong confluence at 52,531 (weekly S3 + historical support).
MACD bullish crossover aligns with bounce potential.
Intraday Sell Trade ๐ซ
No valid setup above DCMP. Avoid fresh shorts until price closes above 53,182 (Daily R1).
Critical Remarks ๐
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.
