📊 BankNifty-NSE INDEX 26th December 2024 Daily Analysis Based on Main Key Levels

In this analysis, we will evaluate the current state of the BankNifty market, identifying key price levels and potential trading strategies.

📍 Daily Current Market Price (DCMP)

The current market price for BankNifty is 51,106. This serves as a crucial reference point for identifying trading opportunities.

📉 Key Levels

🛑 Resistance (Above DCMP)

Resistance 1: 51,702

Resistance 2: 52,897

Resistance 3: 53,636

✅ Support (Below DCMP)

Support 1: 50,507

Support 2: 49,768

Support 3: 48,572

📉 Swing Levels

Swing High: 53,888

Swing Low: 50,609

Summary of Analysis

The BankNifty market is currently positioned at 51,106. Key resistance levels above this price include 51,702, 52,897, and 53,636. The support levels below this price are 50,507, 49,768, and 48,572. The swing high is at 53,888, and the swing low is at 50,609.

Suggested Trades

💼 Intraday Buy Trade

Entry Price: ✨ 50,507

Stop Loss: ❌ 50,000

Take Profit 1: 🎯 51,000

Take Profit 2: 🎯 51,500

📌 Reason for Entry

The price is approaching a key support level at 50,507, indicating a favorable buying opportunity based on technical analysis.

💼 Intraday Sell Trade

Entry Price: ✨ 51,702

Stop Loss: ❌ 52,000

Take Profit 1: 🎯 51,200

Take Profit 2: 🎯 50,800

📌 Reason for Entry

Resistance at 51,702 suggests a potential selling opportunity, with targets set below this level.

💡 Conclusion

This analysis provides a concise overview of key levels and trade opportunities for BankNifty. By monitoring these levels, traders can make informed decisions in the current market environment. Stay tuned for more insights and happy trading!