🔍 BankNifty-NSE INDEX 30th January 2025 Daily Analysis Based on Main Key Levels

Daily Current Market Price (DCMP): 49,311

Key Levels:

Below DCMP: Support at 48,938 (BUY Zone)

Above DCMP: Resistance at 49,205 (SELL Zone)

📊 Technical Overview

Swing High: 49,650 (Daily timeframe)

Swing Low: 48,074 (Daily timeframe)

Critical Levels:

Intraday Buy Trigger: 48,095 (Strong Historical Support)

Intraday Sell Trigger: 49,299 (Key Resistance)

Fibonacci Retracement: Aligns with support/resistance zones, reinforcing reversal probabilities.

RSI & MACD: RSI near neutral (55); MACD shows tentative bullish crossover near support.

📈 Intraday Trade Setups

Intraday Buy Trade Idea

Entry: 🎯 48,095 (Key Support Zone)

Stop Loss: 🛑 47,723 (Below Support2)

Take Profit 1: 🚀 48,938 (Immediate Resistance)

Take Profit 2: 🚀 49,071 (Next Resistance)

Rationale: Price retesting strong support at 48,095 offers a rebound opportunity toward 49,071.

Intraday Sell Trade Idea

Entry: 🎯 49,299 (Key Resistance Zone)

Stop Loss: 🛑 49,671 (Above Resistance2)

Take Profit 1: 🚀 48,855 (Support2)

Take Profit 2: 🚀 48,074 (Swing Low)

Rationale: Resistance at 49,299 aligns with bearish reversal patterns, targeting 48,074.

📉 Critical Support & Resistance Levels

Resistance: 49,205 → 49,288 → 49,421

Support: 48,938 → 48,855 → 48,721

💡 Final Insights

BankNifty consolidates near 49,311, with bulls defending 48,095 and bears active above 49,299. Trade setups prioritize reactive entries at these triggers. Tight risk management is key amid volatile index movements.