📈 BankNifty-NSE INDEX Daily Analysis Based on Key Levels – April 21, 2025

Current Market Price (DCMP): 🌐 55,304

🔍 Critical Price Zones

Resistance (Above DCMP):

• R1: 56,064 🛑 (Immediate Ceiling)

• R2: 56,064

• R3: 56,064

Support (Below DCMP):

• S1: 55,092 🟢 (Strong Floor)

• S2: 54,492

• S3: 53,520

📊 Technical Snapshot

• Swing High: 50,641

• Swing Low: 47,702

Price consolidating near 3-week highs after breakout

• RSI: 52 (Neutral with bullish bias)

• MACD: Bullish momentum fading on 4H chart

• Fib Levels: 50% retracement at 55,092 aligns with S1

💡 Intraday Trade Setups

1️⃣ Buy Setup

• Entry: 55,092 🟩

• Stop Loss: 54,800 🛑

• Take Profit 1: 56,064 ✅

• Take Profit 2: 56,500 ✅

Trigger: Bullish reversal candlestick at S1

2️⃣ Sell Setup

• Entry: 56,064 🟥

• Stop Loss: 56,300 🛑

• Take Profit 1: 55,092 ✅

• Take Profit 2: 54,492 ✅

Trigger: Bearish rejection at R1 with overbought RSI

🎯 Conclusion

BankNifty shows consolidation between 55,092-56,064. Favor buying dips near Fib support and selling rallies at resistance. Monitor RBI policy for fundamental triggers.