BankNifty Intraday Support & Resistance Levels for 05.09.2024

On Wednesday, BankNifty opened with a gap down, landing inside the 75m demand zone. It made a low of 51259.90 but managed a slight recovery by the end of the day, closing at 51400.25 (still within the 75m demand zone). The weekly trend (50 SMA) is positive, while the daily trend (50 SMA) remains sideways. Currently, GIFT NIFTY is trading 90 points higher, suggesting a potential gap-up opening today.

Support Levels:
Near Demand/Support Zone (75m): 51240 - 51433 (current price inside the zone)
Near Minor Demand/Support Zone (15m): 50984 - 51073
Far Demand/Support Zone (30m): 50663 - 50772
Far Demand/Support Zone (30m): 50393 - 50507
Far Demand/Support Zone (30m): 49806 - 50017
Far Demand/Support Zone (125m): 49681 - 49797

Resistance Levels:
Near Supply/Resistance Zone (15m): 51665 - 51732
Far Supply/Resistance Zone (30m): 52103 - 52340
Far Supply/Resistance Zone (125m) for Weekly Trade: 52870 - 53188