📊 BankNifty-NSE INDEX 31st December 2024 Daily Analysis Based on Main Key Levels

In this analysis, we provide a comprehensive overview of the BankNifty-NSE Index as of December 31, 2024. The Daily Current Market Price (DCMP) for BankNifty is 50,892. This serves as a critical reference point for identifying trading opportunities.

📉 Key Levels

🛑 Resistance (Above DCMP)

Resistance 1: 51,635

Resistance 2: 51,821

Resistance 3: 52,122

✅ Support (Below DCMP)

Support 1: 51,033

Support 2: 50,847

Support 3: 50,546

📉 Swing Levels

Swing High: 53,888

Swing Low: 50,609

Summary of Analysis

As of the current market price of 50,892, key resistance levels above this price include 51,635, 51,821, and 52,122. The support levels below this price are 51,033, 50,847, and 50,546. The swing high is at 53,888, and the swing low is at 50,609.

Suggested Trades

💼 Intraday Buy Trade

Entry Price: ✨ 50,847

Stop Loss: ❌ 50,546

Take Profit 1: 🎯 51,033

Take Profit 2: 🎯 51,635

📌 Reason for Entry

The price is approaching a key support level at 50,847, indicating a favorable buying opportunity based on technical analysis.

💼 Intraday Sell Trade

Entry Price: ✨ 51,033

Stop Loss: ❌ 51,635

Take Profit 1: 🎯 50,892

Take Profit 2: 🎯 51,821

📌 Reason for Entry

Resistance at 51,033 suggests a potential selling opportunity, with targets set below this level.

Conclusion

This analysis provides a concise overview of key levels and trade opportunities for the BankNifty-NSE Index. By monitoring these levels, traders can make informed decisions in the current market environment. Stay tuned for more insights and happy trading!