📊BankNifty-NSE INDEX 23rd December 2024 Daily Analysis Based on Main Key Levels

📍 Daily Current Market Price (DCMP)

The current market price for BankNifty is 51,188.

📉 Key Levels

🛑 Resistance (Above DCMP)

Resistance 1: 52,897

Resistance 2: 53,636

Resistance 3: 54,832

✅ Support (Below DCMP)

Support 1: 50,507

Support 2: 49,768

Support 3: 48,572

📉 Swing Levels

Swing High: 53,888

Swing Low: 52,264

Summary of Analysis

The market is currently positioned at 51,188. Key resistance levels above this price include 52,897, 53,636, and 54,832. Support levels below the DCMP are at 50,507, 49,768, and 48,572. The swing high is noted at 53,888, and the swing low at 52,264.

Suggested Trades

💼 Intraday Buy Trade

Entry Price: ✨ 50,507

Stop Loss: ❌ 50,307

Take Profit 1: 🎯 50,907

Take Profit 2: 🎯 51,207

📌 Reason for Entry:

The price is approaching a significant support level at 50,507, indicating a favorable buying opportunity based on technical analysis.

💼 Intraday Sell Trade

Entry Price: ✨ 51,702

Stop Loss: ❌ 51,902

Take Profit 1: 🎯 51,302

Take Profit 2: 🎯 50,902

📌 Reason for Entry:

Resistance at 51,702 suggests a potential selling opportunity, with targets set below this level.

This structured analysis provides traders with essential insights into BankNifty's key levels and potential trade opportunities. By closely monitoring these levels, traders can enhance their decision-making process in the current market environment. Happy trading!