BankNifty Intraday Support & Resistance Levels for 08.11.2024

On Thursday, BankNifty opened flat, hit a high of 52,377.25, and then declined to a low of 51,752.25. It closed at 51,916.50, down by 400 points from the previous close. Both the Weekly and Daily trends (50 SMA) remain sideways, signalling a cautious approach.

Demand/Support Zones
Near Support (30m): 50,900.10 - 51,230.85
Key Support (15m): 50,382.10 - 50,485.15
Major Support (Daily): 49,654.65 - 49,959.25
Deep Support: 49,282.65 (61.8% FIBO)
Extended Support (Daily): 44,633.85 - 45,750.40

Supply/Resistance Zones
Near Resistance (30m): 52,232.35 - 52,396.50
Major Resistance (Daily): 52,817.80 - 53,235.25
Extended Resistance (Weekly): 53,741.40 - 54,467.35