BankNifty Intraday Support & Resistance Levels for 01.10.2024

On Monday, BankNifty opened with a gap down and, under selling pressure, broke the 30-minute demand zone, closing within the 125-minute demand zone mentioned in the previous post. If BankNifty breaks below 52,847 with volume and sustains, we could see further downside towards 52,285. BankNifty closed at 52,978.1, losing 856 points from the previous close. The Weekly and Daily Trends (50 SMA) remain positive.

Demand/Support Zones:
Near Demand/Support Zone (125 min): 52,847.90 - 53,136.10 (current price inside the zone)
Far Demand/Support Zone (Daily): 51,643.95 - 52,484.60
Far Demand/Support Zone (Daily): 50,369.40 - 51,420.15

Supply/Resistance Zones:
Near Supply/Resistance Zone (75 min): 53,763.20 - 53,945.10
Far Supply/Resistance Zone (75 min): 54,152.50 - 54,338.70
BANKNIFTYbankniftyanalysisbankniftydemandsupplybankniftyintradaylevelsbankniftysupportresistancebankniftytrendSupply and DemandSupport and ResistanceTrend Analysis

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