BankNifty-NSE INDEX 11th March 2025 Daily Analysis Based on Main Key Levels

Daily Current Market Price (DCMP): 47,838

Price Context: Trading below immediate resistance at 48,011 🔥 and above support at 47,776 🛡️.

📊 Critical Levels & Technical Snapshot

Resistance Levels (Above DCMP):

R1: 48,011 🎯 (Key Weekly Resistance)

R2: 48,773

R3: 49,390

Support Levels (Below DCMP):

S1: 47,776 🎯 (Key Weekly Support)

S2: 47,394

S3: 47,011

Swing High/Low:

Recent Swing High: 50,641 📈

Recent Swing Low: 47,841 📉

📈 Technical Drivers

1. Fibonacci Confluence:

S1 (47,776) aligns with the 78.6% Fib retracement of the 47,841–50,641 swing, indicating strong institutional support.

R1 (48,011) coincides with the 23.6% Fib extension level, acting as a fresh supply zone.

2. Momentum Signals:

RSI: Neutral at 48.9 but shows bullish divergence on lower timeframes.

MACD: Bullish histogram expansion with a potential crossover above the signal line.

🚨 Intraday Trade Setups

Trade Idea 1: Intraday Buy

Entry: 47,776 🎯 (Weekly Support)

Stop Loss: 47,394 🛑

Take Profit 1: 48,011 ✅ (R1 Retest)

Take Profit 2: 48,392 ✅

Rationale: Strong demand zone at S1 (47,776) with bullish RSI reversal and MACD momentum shift.

Trade Idea 2: Intraday Sell

Entry: 48,011 🎯 (Weekly Resistance)

Stop Loss: 48,773 🛑

Take Profit 1: 47,776 ✅

Take Profit 2: 47,394 ✅

Rationale: R1 (48,011) aligns with overhead supply and bearish RSI divergence on 4H charts.

⚠️ Risk Management Protocol

Tighten stops if prices breach swing levels (50,641 or 47,841).

Monitor RBI policy cues and global banking sector volatility.

Final Outlook

BankNifty consolidates between 47,776–48,011. Focus on trades at tested levels with 1:2 risk-reward ratios. A sustained close above 48,773 or below 47,394 may trigger directional momentum.