Daily Nifty & BankNifty Levels – Nifty & BankNifty Future Trading Levels
Trading as per the support and resistance levels may be quite useful for intraday and Positional trader in stocks and index. Resistance is termed as the level where the stock generally gets some Selling Pressure before it can go further up. A support is a level where a stock get buying interest before it can fall further. Under the normal market conditions or in the absence of some extremely panic news the support and the resistance levels can act as good levels for initiating the fresh buying or fresh selling. In general it’s advisable to buy the stocks at support level and sell at the resistance level. In Intraday trading there are multiple support and resistance levels known as Support1 Support2, Resistance1 Resistance2 etc.
Nifty Support and the resistance levels are
| Pivot Level = 5949 | |
| Support1 = 5917 | Resistance1 = 5997 |
| Support2 = 5869 | Resistance2 = 6029 |
| Support3 = 5837 | Resistance3 = 6077 |
BankNifty support and the resistance levels are
| Pivot Level = 12182 | |
| Support1 = 12090 | Resistance1 = 12327 |
| Support2 = 11945 | Resistance2 = 12419 |
| Support3 = 11853 | Resistance3 = 12564 |
The formula’s used for calculating the support and resistance is:-
Pivot point (P) = (H + L + C) / 3
First resistance level (R1) = (2 * P) – L
First support level (S1) = (2 * P) – H
Second resistance level (R2) = P + (R1 – S1)
Second support level (S2) = P – (R1 – S1)
These levels are updated by NiftyLiveCharts.com Team