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Bank Nifty Prediction for 12 November 2024
Bank Nifty is taking support at the 100DEMA indicates that the Index will likely to rise on Tuesday. Also the Ascending Triangle Pattern indicates a bullish move tomorrow
While the benchmark indices traded flat today after a 1% up and down move, Bank Nifty traded in green – making a day high of 52,177 which is more than 1.5% higher than the day’s low but still closes the day below the 52,000 level at 51,876 which is 0.61% or 315 points higher from the previous day close.
On the technical chart, Bank Nifty is taking support at its 100 DEMA near the 51,250 level which is a key support level for the Index forming an ascending triangle pattern – while staying within a range.
Both the key technical indicators including the RSI and MACD are in the positive zone, where the RSI has risen above 50 today, indicating a Bullish trend and the MACD has given a Bullish crossover.
The Nearest support for the Bank Nifty is at the 51,500 level followed by 51,300 and 51,000 levels while the resistance stands at the 52,000 level followed by 52,500 which is the upper band of the range.
What to Expect from Bank Nifty on 12 November 2024
For Tuesday, 12 November, Bank Nifty is likely to rise further above the 52,000 level and if it manages to sustain above the 52,000 level then we may see Bank Nifty at the 52,500 level tomorrow which is a key resistance for the Bank Nifty.
But if it falls below 51,500 then we can say that the index has turned bearish for the day with support at the 51,000 level.
Trading Level for Nifty: 51,000 – 52,500
Nifty Prediction for 11 March 2026
By: Raaz Aryan
Bank Nifty Support and Resistance for 12 November 2024
| Nifty Support Levels | Nifty Resistance Levels |
|---|---|
| 51,500 | 52,000 |
| 51,300 | 52,500 |
| 51,000 | 53,000 |
Note:- For the Most Accurate Data you can revisit this Page after 11:00 AM (during Trading hours), so we can update the Trade Setup after analyzing the Market.
Happy Trading 🙂
