📈 BankNifty-NSE INDEX Daily Analysis Based on Main Key Levels – April 3, 2025

Daily Current Market Price (DCMP): 51,597 🔄

🗝️ Key Levels Summary

Below DCMP (Support)

Immediate Support: 51,474 📍

Strong Support Cluster: 50,990–50,691 🛑

Swing Low (Daily/4H): 47,702 ⚠️

Above DCMP (Resistance)

Near-Term Resistance: 51,959 📍

Strong Resistance Zone: 52,258–52,742 🛑

Swing High (Daily): 50,641 ⚠️

🔍 Technical Analysis

1️⃣ Fibonacci Zones:

38.2% retracement aligns with swing low (47,702), validating 51,474 as critical support.

61.8% extension resistance at 51,959–52,742 zone.

2️⃣ Momentum Indicators:

RSI: Neutral at 49, suggesting consolidation near DCMP (51,597).

MACD: Histogram flattening near zero; bullish crossover potential above 51,959.

💡 Trade Setup

✅ Intraday Buy Trade

Entry: 51,474 🎯

Stop Loss: 50,990 🛑

Take Profit 1: 51,959 🚀

Take Profit 2: 52,258 🚀

Rationale:

DCMP (51,597) holds above Fib support (51,474). MACD stabilization and RSI neutrality favor upside toward 51,959–52,258 resistance.

❌ Intraday Sell Trade

Entry: 51,959 🎯

Stop Loss: 52,258 🛑

Take Profit 1: 50,990 🚀

Take Profit 2: 50,691 🚀

Rationale:

Resistance at 51,959 aligns with Fib extension. Bearish reversal below DCMP targets 50,990–50,691 support cluster.

📉 Critical Observations

Monitor 4-hour closes above 51,959 for bullish confirmation.

Invalidate sell trades if BankNifty sustains above 52,258 with volume.

🔔 Disclaimer: Technical patterns guide this analysis. Pair with RBI policy cues for robust execution.

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