📊 BankNifty-NSE INDEX 17th February 2025 Daily Analysis Based on Main Key Levels

Daily Current Market Price (DCMP): 48,923

🔑 Immediate Support & Resistance

Below DCMP (Support):

Support 1: 48,776 🟢 | Support 2: 48,803 | Support 3: 47,844

Above DCMP (Resistance):

Resistance 1: 49,324 🔴 | Resistance 2: 49,470 | Resistance 3: 50,760

Swing Levels (Daily/4H):

Swing High: 49,650 | Swing Low: 47,844

📉 Technical Snapshot

Key Zones: Critical support at 48,776 and resistance at 49,324.

Fibonacci Levels: Retracement aligns with Support 3 (47,844) and Resistance 3 (50,760).

RSI: Neutral (54), no divergence observed.

MACD: Bullish crossover above the baseline.

💡 Intraday Trade Opportunities

1️⃣ Intraday Buy Setup

Entry: 48,776 🟢 (Strong Support Zone)

Stop Loss: 47,844 🔴 (Below Swing Low)

Take Profit 1: 49,137 🟡 (Near DCMP)

Take Profit 2: 49,470 🟡 (Resistance 2)

2️⃣ Intraday Sell Setup

Entry: 49,324 🔴 (Key Resistance Zone)

Stop Loss: 49,650 🔴 (Above Swing High)

Take Profit 1: 48,803 🟡 (Support 2)

Take Profit 2: 47,844 🟡 (Support 3)

🎯 Final Insight

BankNifty consolidates near 48,923. A break above 49,324 could target 49,650, while a dip below 48,776 may test 48,803. Trade with strict risk management and tiered profit-taking.

Risk Note: Validate setups with live price action. Adjust dynamically to volatility. 🚨