11 October 2024 Banknifty Today's Result
BankNifty Analysis for 11th October 2024
Today, BankNifty opened on a bearish note, showing a sharp decline in the early hours. The index dropped to a low of 51,172.30 before experiencing a short recovery. The selling pressure continued, leading to a deeper slide, ultimately ending the day at 51,189.25, marking a 0.70% fall with a drop of 358.60 points.
Key levels were broken, and the market showed resistance around 51,267.05, which limited the bounce. Although a minor recovery was seen post 11:00 AM, it remained unable to push the index above crucial resistance levels.
The general sentiment for the day was bearish, indicating a downtrend with short-lived recoveries. The sellers maintained control for most of the session, and traders had to be cautious with their entries, especially with the breakdown of major support levels.
Today, BankNifty opened on a bearish note, showing a sharp decline in the early hours. The index dropped to a low of 51,172.30 before experiencing a short recovery. The selling pressure continued, leading to a deeper slide, ultimately ending the day at 51,189.25, marking a 0.70% fall with a drop of 358.60 points.
Key levels were broken, and the market showed resistance around 51,267.05, which limited the bounce. Although a minor recovery was seen post 11:00 AM, it remained unable to push the index above crucial resistance levels.
The general sentiment for the day was bearish, indicating a downtrend with short-lived recoveries. The sellers maintained control for most of the session, and traders had to be cautious with their entries, especially with the breakdown of major support levels.
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