BankNifty Intraday Support & Resistance Levels for 16.10.2024

On Tuesday, BankNifty opened with a gap up, reaching a high of 52,022.05 and a low of 51,698.75 in a slightly volatile session. It closed at 51,906, gaining 89 points from the previous close. The Weekly Trend (50 SMA) remains positive, while the Daily Trend (50 SMA) continues to be negative.

BankNifty Demand/Support Zones for 16.10.2024:
Near Demand/Support Zone (125m): 51,005.85 - 51,246.50
Far Demand/Support Zone (Daily): 49,654.65 - 49,959.25
Far support at 49,282.65 (61.8% FIBO Level)

BankNifty Supply/Resistance Zones for 16.10.2024:
Near Supply/Resistance Zone (15m): 52,254.70 - 52,358.35
Far Supply/Resistance Zone (15m): 52,417.40 - 52,562.70
Near Supply/Resistance Zone (Daily): 52,817.80 - 53,235.25
Far Supply/Resistance Zone (75m): 53,763.20 - 53,945.10
Far Supply/Resistance Zone (75m): 54,152.50 - 54,338.70