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⚡️ Bank Nifty – 5-Minute Chart Analysis 🗓 Date: 24th April 2025 📊 CMP: 55,385.60 (−0.32%) 📌 Key Observations: Ascending Trendline Support: Price is respecting an upward sloping trendline, indicating short-term buying interest. Resistance Zone: Strong resistance is clearly visible in the 55,480 – 55,520 zone (marked in red). Price faced rejection multiple times from this area. Price Compression: Price is forming a narrowing pattern near support, hinting at a possible breakout or breakdown. Volume Spike: Rising volume near the trendline indicates potential for a directional move. 🔍 Market Sentiment: The index is in consolidation with mild bullish undertones due to the ascending support. However, failure to break above the resistance zone may attract sellers. A breakdown below the trendline could lead to a test of the 55,200–55,150 zone. ⚠️ Watch for: Breakout above 55,520 could trigger sharp upside towards 55,650+. Breakdown below 55,350 with volume might confirm bearish momentum. Look out for false breakouts with low volume. #BankNifty #SupportResistance #Trendline #VolumeAnalysis #IntradaySetup

⚡️ Nifty 50 – 5-Minute Chart Analysis 🗓 Date: 24th April 2025 📊 CMP: 24,300.85 (+0.67%) 📌 Key Observations: Ascending Channel Formation: Nifty is trading within a rising channel, indicating a bullish intraday structure. Support Level: The lower boundary of the channel is acting as dynamic support around the 24,270–24,280 zone. Resistance Zone: The upper boundary of the channel lies near the 24,340–24,350 area. Key Horizontal Support: A strong price reaction occurred earlier at 24,127.20 (blue line), which now acts as a crucial demand zone. 🔍 Market Sentiment: The sentiment remains positive as long as price sustains within the ascending channel. Buyers are active on dips, and momentum is gradually building. A breakout above 24,350 may invite further upside. However, a breakdown below the rising channel with strong volume may signal short-term profit booking or reversal. ⚠️ Watch for: Breakout above 24,350 for momentum continuation. Breakdown below the channel support with volume could test 24,127.20. Volatility around opening hours on 24th April. #Nifty50 #PriceAction #BullishChannel #IntradayLevels #NSE

JEFFERIES ON WAAREE ENERGIES Downgrades To 'Underperform' From Hold & Hikes Target Price To ₹2,100 From ₹2,030 Q4 Review: Strong Print & FY26 Guidance Profits Should Inflect Over FY26-27 See Lower Imports Into US In FY26 On High Inventories See Weak Non-DCR Economics In India H2 FY27 Onwards Downgrade After A 25% Rally In The Last Month

Today’s INDEX Levels: Nifty Support 24100 Nifty Resistance  24350 BANKNIFTY support placed @ 55000; Resistance @ 55800 SENSEX SUPPORT 79800 SENSEX RESISTANCE 80500 Sectors must be on radar: IT ,FMCG,INFRA

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