📈 BankNifty-NSE INDEX 20th March 2025 Daily Analysis Based on Main Key Levels

The Daily Current Market Price (DCMP) for BankNifty stands at 50,039. Below and above this level, we identify critical support and resistance zones that will guide our intraday trading strategy. Here’s a crisp and accurate analysis of the key levels and trade setups.

Key Levels Summary 🎯

Below DCMP (50,039): Support Levels

BUY/Support1: 49,427

BUY/Support2: 49,313

BUY/Support3: 49,128

Above DCMP (50,039): Resistance Levels

SELL/Resistance1: 49,796

SELL/Resistance2: 49,910

SELL/Resistance3: 50,094

Swing High & Low

Swing High (Daily): 50,641

Swing Low (Daily): 47,841

Technical Indicators 📊

RSI Divergence: Neutral, indicating no clear overbought or oversold conditions.

MACD Crossing: Slight bearish crossover, suggesting potential short-term downward pressure.

Fibonacci Levels: Key retracement levels align with support and resistance zones, reinforcing their significance.

Trade Setups 💡

Intraday Buy Trade Setup

Entry Price: 🎯 49,017

Stop Loss: 🛑 48,800

Take Profit 1: 🎯 49,427

Take Profit 2: 🎯 49,796

Rationale: The price is near the BUY/Support1 level (49,427), which aligns with the weekly pivot (49,017). This setup offers a favorable risk-reward ratio.

Intraday Sell Trade Setup

Entry Price: 🎯 50,094

Stop Loss: 🛑 50,300

Take Profit 1: 🎯 49,796

Take Profit 2: 🎯 49,427

Rationale: The price is near the SELL/Resistance1 level (49,796), which acts as a strong resistance zone. This setup capitalizes on potential downward momentum.

Conclusion 🏁

BankNifty’s current price action is consolidating around key levels, offering clear intraday trading opportunities. The Intraday Buy setup at 49,017 and the Intraday Sell setup at 50,094 are both well-defined with tight stop losses and achievable take profit targets. Always monitor price action and adjust strategies accordingly.