BankNifty Intraday Support & Resistance Levels for 09.09.2024

On Friday, BankNifty opened gap down and, under heavy selling pressure, fell over 1000 points before closing at 50576.85, losing 960 points. Currently, BankNifty is in the daily demand zone (50333 - 50772). If it breaks below this level, we might see a decline towards 49800 and lower. The weekly trend (50 SMA) remains positive, while the daily trend (50 SMA) is sideways.

Support Levels:
Near Demand/Support Zone (Daily): 50333 - 50772
Far Demand/Support Zone (Weekly): 49530 - 50253
Far Demand/Support Zone (125m): 49681 - 49798

Resistance Levels:
Near Supply/Resistance Zone (30m): 50740 - 50862
Far Supply/Resistance Zone (15m): 51201 - 51375
Far Supply/Resistance Zone (125m) for weekly trade: 51405 - 51512