📊 BankNifty-NSE INDEX 27th January 2025 Daily Analysis Based on Main Key Levels

Current Market Overview

The current Daily Current Market Price (DCMP) for BankNifty is 48,177. This analysis highlights key resistance and support levels, along with actionable trade setups based on technical and fundamental analysis.

Key Levels Summary

Resistance Levels Above DCMP (48,177)

🔺 Resistance 1: 49,299

🔺 Resistance 2: 49,671

🔺 Resistance 3: 50,274

Support Levels Below DCMP (48,177)

🟢 Support 1: 48,095

🟢 Support 2: 47,723

🟢 Support 3: 47,120

Swing Levels

📊 Swing High: 49,650

📊 Swing Low: 48,074

Trade Setups

💼 Intraday Buy Trade Setup

Entry Price: ✨ 48,095

Stop Loss: ❌ 47,900

Take Profit 1: 🎯 48,500

Take Profit 2: 🎯 48,800

Reason for Entry:

The support level at 48,095 is below the DCMP, establishing a strong buying zone. This level aligns with significant technical support, indicating potential for upward movement.

💼 Intraday Sell Trade Setup

Entry Price: ✨ 49,697

Stop Loss: ❌ 49,900

Take Profit 1: 🎯 49,300

Take Profit 2: 🎯 49,000

Reason for Entry:

The resistance level at 49,697 is above the DCMP, indicating a strong selling zone. This level coincides with key technical resistance, suggesting potential for downward movement.

Analysis Summary

Resistance and Support Levels: Key levels derived from technical analysis indicate potential reversal zones. Resistance levels are identified at 49,299, 49,671, and 50,274, while support levels are at 48,095, 47,723, and 47,120.

Pivot Levels: The identified pivot level at 48,697 serves as a critical point for potential price reversals.

Fibonacci Levels: The identified support and resistance zones highlight significant retracement and extension levels, providing potential entry points for trades.

RSI Divergence: RSI suggests potential overbought conditions at resistance levels and oversold conditions at support levels, confirming possible reversals.

MACD Crossing: MACD indicates bullish momentum at support levels and bearish momentum at resistance levels, providing additional confirmation for trade setups.

Conclusion

This analysis provides actionable trade setups and key levels to assist traders in making informed decisions in the BankNifty market. With the current market price at 48,177, traders can utilize the outlined resistance and support levels, along with technical indicators, to execute trades confidently.