📈 BankNifty-NSE INDEX Daily Analysis Based on Main Key Levels – 16th April 2025

Daily Current Market Price (DCMP): 🏷️ 52,771

Price context: DCMP trades above immediate supports (52,531–52,243) but below critical resistances (52,866–53,379).

📉 Key Levels Breakdown

Resistance/Sell Zones (Above DCMP)

R1: 🚨 52,866 (Price Congestion Zone)

R2: ⚡ 53,379 (Fibonacci 61.8% Resistance)

R3: 🔥 54,200 (Swing High Confluence)

Support/Buy Zones (Below DCMP)

S1: 🛡️ 52,531 (Dynamic Trendline Support)

S2: 🔄 51,379 (Breakdown Floor)

🔍 Technical Analysis Snapshot

Swing Levels:

Swing High: 50,641 (Weekly Ceiling)

Swing Low: 47,702 (Weekly Floor)

Fibonacci: 50% retracement at 52,243 aligns with consolidation.

RSI: Neutral at 55 (No divergence observed).

MACD: Bullish crossover emerging on 4H chart.

💡 Intraday Trade Setups

Intraday Buy Trade

Entry: 🟢 52,531 (Retest of Support Cluster)

Stop Loss: 🔴 50,939 (-1,592 | Below S2)

Take Profit 1: 🟡 53,379 (+848 | R1 Target)

Take Profit 2: 🟢 54,200 (+1,669 | R2 Breakout)

📈 Critical Technical Drivers

Price Action: Sustained trading above 52,531 (S1) signals bullish momentum; break below 51,379 (S2) confirms bearish reversal.

MACD Histogram: Rising bullish bars indicate strengthening upside pressure.

Swing Alignment: Proximity to weekly swing high (50,641) creates high-probability reversal zone.