On Wednesday, BankNifty opened with a gap-up but traded within a narrow 300-point range, touching a low of 52,185.40 and a high of 52,493.95. It closed at 52,317.40, adding 110 points over the previous close. The Weekly and Daily Trends (50 SMA) remain sideways, signalling potential consolidation.
Demand/Support Zones Minor Support (30m): 50,900.10 - 51,230.85 Minor Support (15m): 50,382.10 - 50,485.15 Near Support (Daily): 49,654.65 - 49,959.25 Far Support: 49,282.65 (61.8% FIBO Level) Deep Support (Daily): 44,633.85 - 45,750.40
Supply/Resistance Zones Near Resistance (Daily): 52,817.80 - 53,235.25 Key Resistance (Weekly): 53,741.40 - 54,467.35