On Friday, BankNifty opened with a gap up, reaching a high of 51,994.10 and remaining within a narrow range, closing at 51,920.90, gaining 165 points. The weekly close was above both the previous week's and the month's high. If last week's low of (50369.40) holds, we could see further upward movement and potential new highs in the coming weeks. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) is currently sideways.
Demand/Support Zones:
Near Demand/Support Zone (15 min): 51,514.55 - 51,613.95
Far Demand/Support Zone (75 min): 51,025.00 - 51,222.65
Far Demand/Support Zone (75 min): 50,564.65 - 50,760.55
Supply/Resistance Zones:
Near Supply/Resistance Zone (Daily): 52,145.60 - 52,586.75
Far Supply/Resistance Zone (Daily): 53,103.70 - 53,357.70