Banknifty Analysis for 19th Mar'25
Banknifty Analysis for 19th Mar'25 1. Support & Resistance Levels Support Levels: 48,000 – Recent swing low 46,500 – Strong historical support 44,000 – Major support zone Resistance Levels: 49,500 – Current breakout level 51,000 – Next significant resistance 54,000 – Major resistance level 2. Elliott Wave Analysis Bank Nifty seems to be in a corrective wave (Wave 4) after completing an impulsive wave up. If it breaks 49,500 , it could initiate Wave 5 towards 52,000-54,000. If it fails, expect Wave C correction towards 46,500-47,000 . 3. Fibonacci Levels Retracement Levels: 50% at 48,000 (recent support) 61.8% at 46,500 (major support zone) Extensions (if upward breakout occurs): 1.618 Fib Extension at 52,500 2.0 Fib Extension at 54,000 4. Moving Averages (10 & 30 EMA) Bullish crossover likely if price closes above 49,500 . If price stays below 48,500, short-term weakness expected. 5. Indicator & Oscillator...