Sensex Support And Resistance
Key Support and Resistance Levels Of Sensex
Resistance Levels Of Sensex :
Resistance Level 1 :
80,520 – This is the first barrier that Sensex needs to overcome. Breaking above this level could signal continued upward momentum in the short term.
Resistance Level 2 :
81,280 – This acts as the next significant resistance. A break above this level would likely attract more buyers, potentially pushing the index higher.
Support Levels Of Sensex :
Support Level 1 :
78,800 – This is the immediate support level. If the index starts to decline, holding above this level could indicate that buyers are stepping in to prevent further losses.
Support Level 2 :
77,690 – This is a crucial support level, serving as a safety net if the index faces stronger selling pressure. A break below this level could indicate bearish sentiment.
Risk Management:
If Sensex breaks below 77,690 Support Level 2, it might indicate a stronger downtrend, signaling traders to reconsider long positions or look for potential shorting opportunities.
Targeting Resistance:
When the index approaches the 80,520 or 81,280 resistance levels, it could be an opportune moment to secure profits on long positions, as the market might face selling pressure at these levels.
Nifty 50 Support And Resistance
Key Support and Resistance Levels Of Nifty 50
Resistance Levels Of Nifty 50 :
Resistance Level 1 :
24,350 – This level represents the first line of resistance. If Nifty 50 approaches this level, traders should watch for potential selling pressure. A strong breakout above this could signal further bullish momentum.
Resistance Level 2 :
24,550 – This is a higher resistance level. If Nifty 50 breaks through this level, it may indicate a strong upward trend, as buyers could gain further control.
Support Levels Of Nifty 50 :
Support Level 1 :
23,880 – This level serves as immediate support. If Nifty 50 declines, buyers may step in here, potentially preventing a deeper fall.
Support Level 2 :
23,670– This is a crucial support level. A drop below this point may indicate increasing bearish sentiment and could lead to a more substantial decline.
Risk Management:
If Nifty 50 breaks below 23,670 Support Level 2, it might indicate a stronger downtrend, signaling traders to reconsider long positions or look for potential shorting opportunities.
Targeting Resistance:
When the index approaches the 24,350 or 24,550 resistance levels, it could be an opportune moment to secure profits on long positions, as the market might face selling pressure at these levels.
Bank Nifty Support And Resistance
Key Support and Resistance Levels Of Bank Nifty
Resistance Levels Of Bank Nifty:
Resistance Level 1 :
52,770 – This level is the first point of resistance. If Bank Nifty reaches this level, it may face selling pressure, making it a potential reversal point unless there is strong buying momentum to push it further.
Resistance Level 2 :
52,920 – This is a significant resistance level. A break above this level could indicate bullish strength, possibly leading to a continuation of the uptrend.
Support Levels Of Bank Nifty :
Support Levels 1 :
51,730 – This is the first line of support. If Bank Nifty pulls back, this level may attract buying interest, potentially halting further declines.
Support Levels 2 :
51,090 – This is a stronger support level. A fall below this point could signal a shift towards bearish sentiment, as it might indicate a lack of buying interest at higher levels.
Risk Management:
If Bank Nifty breaks below 51,090 Support Level 2, it might indicate a stronger downtrend, signaling traders to reconsider long positions or look for potential shorting opportunities.
Targeting Resistance:
When the index approaches the 52,770 or 52,920 resistance levels, it could be an opportune moment to secure profits on long positions, as the market might face selling pressure at these levels.
