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