📈 BankNifty-NSE INDEX 5th February 2025 Daily Analysis Based on Main Key Levels

Daily Current Market Price (DCMP): 50,440

🎯 Key Price Levels

Below DCMP (Support):

🛡️ 49,947 (Intraday Buy Zone)

🛡️ 49,120 (Weekly Pivot)

🛡️ 47,844 (New Swing Low)

Above DCMP (Resistance):

🎯 50,458 (Intraday Sell Zone)

🎯 51,285 (Major Resistance)

🔍 Technical Snapshot

Fibonacci Levels: Price hovering between 61.8% retracement (49,120) and 78.6% extension (50,458)

Swing Analysis: Recent swing low at 47,844 (14 Nov 2024) confirms bearish bias

MACD: Potential bearish crossover on daily timeframe

RSI: Neutral at 48, no clear divergence

💡 Trade Ideas

1️⃣ Intraday Buy Setup

Entry: 🟢 49,947 (Weekly Support 1)

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

Take Profit 1: 🟡 50,440 (DCMP)

Take Profit 2: 🟢 50,458 (Resistance 2)

2️⃣ Intraday Sell Setup

Entry: 🔴 50,458 (Weekly Resistance 2)

Stop Loss: 🟢 50,673 (Daily Resistance 3)

Take Profit 1: 🟡 50,120 (Pivot Level)

Take Profit 2: 🟢 49,947 (Support 1)

📊 Critical Observations

Price trapped between weekly pivot (49,120) and daily resistance (50,458)

Break below 49,650 could trigger bearish momentum toward 47,844

Sustained trade above 50,673 needed for bullish reversal confirmation