📊BankNifty-NSE INDEX Daily Analysis Based on Main Key Levels - 8 April 2025

Daily Current Market Price (DCMP): 🌟 50,511

Price trades ABOVE immediate support (50,227) but BELOW critical resistance (50,667)

🚨 Critical Price Zones

Resistance (Sell Areas):

🔥 50,667 (Immediate supply cluster)

🔥 51,819 (Multi-session ceiling)

🔥 52,531 (Structural barrier)

Support (Buy Areas):

🛡️ 50,227 (Liquidity-rich baseline)

🛡️ 49,329 (Order block confluence)

🛡️ 48,545 (Long-term demand zone)

🔥 Technical Snapshot

Swing Levels:

Daily High: 50,641 | Daily Low: 47,702

4H High: 50,598 | 4H Low: 49,814

Momentum:

RSI at 49 (neutral-bearish) | MACD histogram contracting near zero line

Price Action:

Descending triangle pattern forming below 50,667 with weak closes

💡 Intraday Trade Setups

📈 Intraday Buy (Long)

🎯 Entry: 🟢 50,227 (Demand cluster)

🔴 Stop Loss: 🛑 49,814 (4H swing low)

✅ Take Profit 1: 💰 50,511 (DCMP retest)

✅ Take Profit 2: 💰 50,667 (Immediate resistance)

Rationale: Bullish reversal signal at 78.6% Fibonacci retracement zone with hidden RSI divergence.

📉 Intraday Sell (Short)

🎯 Entry: 🔴 50,667 (Supply zone)

🔴 Stop Loss: 🛑 51,379 (Upper timeframe swing high)

✅ Take Profit 1: 💰 49,814 (4H pivot)

✅ Take Profit 2: 💰 49,329 (Daily support)

Rationale: Bearish rejection at descending channel resistance with MACD line crossover confirmation.

⚡ Key Observations

DCMP 50,511 aligns with 20EMA (50,480) – critical equilibrium level.

Volume profile shows accumulation below 50,227 support.

Bullish divergence emerging on 30-minute Stochastic oscillator.

Risk Alert: Monitor RBI policy announcement at 10:00 IST – Hawkish stance could trigger 2% drop toward 49,329 support.