💹 BankNifty-NSE INDEX 5th March 2025 Daily Analysis Based on Main Key Levels

Daily Current Market Price (DCMP): 48,609 🔄

BankNifty trades above immediate support (48,465) and below critical resistance (48,806).

🔑 Key Technical Levels

🛑 Resistance Zones (Sell Zones)

R3: 49,359 🚨 (Major resistance)

R2: 48,806 🔻 (Strong intraday barrier)

R1: 48,465 ⚠️ (Key pivot level)

🟢 Support Zones (Buy Zones)

S1: 47,841 📌 (Critical swing low)

S2: 47,531 🔼 (Secondary support)

S3: 47,031 🛡️ (Long-term floor)

Swing High: 50,641 | Swing Low: 47,841

📊 Technical Indicators

RSI: Neutral at 52 (no divergence observed).

MACD: Bearish crossover near 48,806 resistance.

Fibonacci Levels: 61.8% retracement aligns with 48,465 support.

💡 Trade Setups

🟢 Intraday Buy Setup

Entry: 48,465 📍 (Key support level)

Stop Loss: 47,841 🚫 (Below swing low)

Take Profit 1: 48,609 🎯 (DCMP retest)

Take Profit 2: 48,806 🚀 (Immediate resistance)

Rationale: Strong rebound potential at Fib-aligned support (48,465) with MACD stabilization.

🔴 Intraday Sell Setup

Entry: 48,806 📍 (Key resistance level)

Stop Loss: 49,359 🚫 (Above major resistance)

Take Profit 1: 48,465 🎯 (Support zone)

Take Profit 2: 47,841 🚀 (Swing low)

Rationale: Bearish rejection likely at 48,806 resistance with RSI neutrality and MACD downtrend.

📉 Market Outlook

BankNifty faces a critical test between 48,465 support and 48,806 resistance. Sustained trading above 48,609 (DCMP) may trigger bullish momentum, while a breakdown below 48,465 risks retesting 47,841.

🔔 Watch: Price action near 48,609 for intraday directional bias confirmation.

📌 Summary

Key Supports: 48,465 → 47,841 → 47,031

Key Resistances: 48,806 → 49,359 → 50,641

Swing Levels: High at 50,641 | Low at 47,841

Price Bias: Neutral-to-bearish below 48,806.

Deploy strict risk management in volatile index trading. 💼⚡