BankNifty Muhurat Trading Support & Resistance for 01.11.2024
✨ Happy Diwali and Auspicious Muhurat Trading! ✨
On Thursday, BankNifty opened flat to negative and, despite an initial high of 52,005.60, faced selling pressure in banking stocks, dropping nearly 700 points to a low of 51,318.10. It found some support at the 15m demand zone, closing at 51,475.35, down 332 points from the previous close. The Weekly Trend (50 SMA) remains sideways, as does the Daily Trend (50 SMA). Larger time frame demand and supply zones (75m, Daily, Weekly) remain unchanged.
Small Time-Frame Demand/Support Zones
Near Demand/Support (5m): 51,158.65 - 51,233.50
Near Demand/Support (15m): 50,382.10 - 50,485.15
Small Time-Frame Supply/Resistance Zones
Near Supply/Resistance (5m): 51,638.05 - 51,688.85
Near Supply/Resistance (15m): 51,692.50 - 51,799.75
Near Supply/Resistance (15m): 52,264.05 - 52,349.45
Larger Time-Frame Demand/Support Zones
Near Demand/Support (Daily): 49,654.65 - 49,959.25
Far Support: 49,282.65 (61.8% FIBO Level)
Far Demand/Support (Daily): 44,633.85 - 45,750.40
Larger Time-Frame Supply/Resistance Zones
Near Supply/Resistance (Daily): 51,855.15 - 52,577.50 (tested)
Far Supply/Resistance (Daily): 52,817.80 - 53,235.25
Far Supply/Resistance (Weekly): 53,741.40 - 54,467.35
Wishing you a prosperous Muhurat trading session and a joyous Diwali! 🪔📈
On Thursday, BankNifty opened flat to negative and, despite an initial high of 52,005.60, faced selling pressure in banking stocks, dropping nearly 700 points to a low of 51,318.10. It found some support at the 15m demand zone, closing at 51,475.35, down 332 points from the previous close. The Weekly Trend (50 SMA) remains sideways, as does the Daily Trend (50 SMA). Larger time frame demand and supply zones (75m, Daily, Weekly) remain unchanged.
Small Time-Frame Demand/Support Zones
Near Demand/Support (5m): 51,158.65 - 51,233.50
Near Demand/Support (15m): 50,382.10 - 50,485.15
Small Time-Frame Supply/Resistance Zones
Near Supply/Resistance (5m): 51,638.05 - 51,688.85
Near Supply/Resistance (15m): 51,692.50 - 51,799.75
Near Supply/Resistance (15m): 52,264.05 - 52,349.45
Larger Time-Frame Demand/Support Zones
Near Demand/Support (Daily): 49,654.65 - 49,959.25
Far Support: 49,282.65 (61.8% FIBO Level)
Far Demand/Support (Daily): 44,633.85 - 45,750.40
Larger Time-Frame Supply/Resistance Zones
Near Supply/Resistance (Daily): 51,855.15 - 52,577.50 (tested)
Far Supply/Resistance (Daily): 52,817.80 - 53,235.25
Far Supply/Resistance (Weekly): 53,741.40 - 54,467.35
Wishing you a prosperous Muhurat trading session and a joyous Diwali! 🪔📈
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