BankNifty Intraday Support & Resistance Levels for 20.06.2024

BankNifty broke all resistance on the upside and made a new All-Time High of 51,957, closing above the previous ATH of 51,133. The weekly trend (50 SMA) is positive, and the daily trend is sideways.

Support Levels:
Near Support/Demand Zone (125m): 50,879 - 51,213
Far Small Support/Demand Zone (15m): 50,597 - 50,765
As the daily trend is still sideways, taking confirmation entries for long trades in the 125m demand/support zone is advised.

Resistance Levels:
Minor Resistance/Supply Zone (5m): 51,780 - 51,939