📊 BankNifty 13th January 2025 Daily Analysis Based on Main Key Levels

BankNifty is currently trading at a Daily Current Market Price (DCMP) of 48,180. This analysis highlights crucial support and resistance levels, technical indicators, and actionable trade setups to help traders optimize their strategies.

🔍 Key Levels Below and Above DCMP

Resistance Levels (Above DCMP):

🔴 Resistance 1: 49,274

🔴 Resistance 2: 49,476

🔴 Resistance 3: 49,801

Support Levels (Below DCMP):

🟢 Support 1: 47,983

🟢 Support 2: 47,423

🟢 Support 3: 47,097

Swing Levels:

Swing High: 51,979

Swing Low: 50,485

🔍 Technical Analysis

The Daily Current Market Price (DCMP) of 48,180 is positioned near critical support and resistance levels, offering opportunities for intraday trades.

Key Technical Indicators:

Fibonacci Levels: Resistance and support levels align closely with Fibonacci retracement and extension zones, confirming their reliability.

RSI Divergence: RSI indicates neutral momentum, with no strong overbought or oversold signals.

MACD Crossing: MACD shows a slight bearish bias, suggesting potential pullbacks before a reversal.

🔍 Trade Setups for BankNifty

Intraday Buy Trade Setup

📍 Entry Price: 🟢 47,983

🛡️ Stop Loss: 🛑 47,423

🎯 Take Profit 1: 🟢 48,548

💰 Take Profit 2: 🟢 49,274

This trade setup leverages the strong support level at 47,983, which aligns with Fibonacci retracement and pivot levels. MACD suggests potential bullish momentum near this zone, making it an ideal area for a buy opportunity.

Intraday Sell Trade Setup

📍 Entry Price: 🔴 48,548

🛡️ Stop Loss: 🛑 49,274

🎯 Take Profit 1: 🔴 47,983

💰 Take Profit 2: 🔴 47,423

This trade setup focuses on the resistance level at 48,548, which aligns with Fibonacci extension levels and pivot zones. RSI hints at potential overbought conditions near this level, supported by a bearish MACD signal.

🔍 Summary of Key Levels

Resistance Levels: 49,274, 49,476, 49,801

Support Levels: 47,983, 47,423, 47,097

Swing Levels: Swing High: 51,979, Swing Low: 50,485

Conclusion

BankNifty is trading near critical levels, with 47,983 serving as a strong support and 48,548 acting as a significant resistance. These levels offer clear intraday trade setups for both buying and selling opportunities. By utilizing technical indicators such as Fibonacci retracement, RSI divergence, and MACD, traders can refine their strategies and capitalize on market movements.