📊 BankNifty-NSE INDEX Weekly Analysis Based on Main Key Levels

Current Market Price (DCMP)

The Current Market Price (DCMP) for BankNifty is 50,988.

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

The current market price of 50,988 indicates that the key resistance levels above this price are 51,635, 51,821, and 52,122, while the support levels below are 51,033, 50,847, and 50,546. The swing high stands 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, presenting a favorable buying opportunity based on technical analysis.

📉 Intraday Sell Trade

Entry Price: ✨ 51,033

Stop Loss: ❌ 51,821

Take Profit 1: 🎯 51,635

Take Profit 2: 🎯 52,122

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 BankNifty. By monitoring these levels, traders can make informed decisions in the current market environment. Happy trading! 🚀