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#NIFTY Intraday Support and Resistance Levels - 11/05/2026Nifty is expected to open with a gap-down opening after facing resistance near the 24350–24450 zone and showing signs of profit booking in the previous session. The index is currently consolidating near the important 24150–24200 range, making today’s opening crucial for the next directional move.
If Nifty sustains above 24000–24050 after opening, buyers may attempt a recovery towards 24150, 24200, and 24250+ levels. A stronger breakout above 24250 can again push the index towards 24350, 24400, and 24450+ in the coming sessions.
On the downside, 23950 remains the key support zone for today’s session. If Nifty slips below this level, selling pressure can intensify sharply towards 23850, 23800, and 23750 levels. Immediate resistance is placed near 24200, and the market needs strong momentum to reclaim bullish control above this area.
As the market is expected to open gap-down after recent volatility, traders should avoid aggressive entries immediately after opening. Wait for confirmation near support and resistance zones, follow strict stop loss, and trail profits regularly due to expected intraday swings. Centum Looks Ready for a Powerful BreakoutCentum Electronics is forming a strong cup and handle structure on the daily chart. After the long correction from the previous highs near 3040 , the stock gradually built a rounded base and recovered steadily from the 2044 low. Instead of seeing aggressive selling near the highs again, the price has started consolidating in a tight range just below resistance, which is usually a positive sign. The handle formation remains controlled, showing that buyers are still holding positions rather than exiting aggressively.
What makes the setup interesting is how price continues to respect the higher-low structure while staying close to the neckline area around 3066 . Normally, weak stocks get rejected hard near resistance, but here the pullbacks are shallow and buying pressure keeps returning quickly. The tight handle also suggests volatility is compressing, which often happens before a larger directional move.
The key breakout level to watch is 3066 . A strong close above this neckline could confirm the pattern and trigger fresh upside momentum. Based on the depth of the cup, traders can long for the following levels: 3350, 3685, and 3855.
As long as the price holds above the handle support zone after the breakout, the broader bullish structure remains intact. Until then, the stock is still in consolidation mode, but the overall setup continues to favor accumulation rather than distribution.
By @BrightRally_Research
Always do your analysis before taking any trade. #BANKNIFTY Intraday PE & CE Levels(11/05/2026)Bank Nifty is expected to open with a gap-down opening after facing rejection near higher resistance zones and continued selling pressure in the previous session. The index is currently trading below the important 55550 resistance area, indicating cautious sentiment in the banking sector.
If Bank Nifty sustains above 55050–55100 after opening, a relief recovery move may emerge towards 55250, 55350, and 55450+ levels. A stronger breakout above 55550 can further extend the upside towards 55750, 55850, and 55950+.
On the downside, 54950 remains the key support level for today’s session. If Bank Nifty slips below this zone, bearish momentum may intensify towards 54750, 54650, and 54550 levels. Further weakness below 54450 can trigger a deeper correction towards 54250, 54150, and 54050.
As the market is expected to open gap-down after recent volatility, traders should avoid aggressive trades immediately after opening. Wait for confirmation near support and resistance levels, maintain strict stop loss, and trail profits carefully due to expected intraday swings. Liquidity Sweep Leads to Bullish ReversalPrice has broken above the descending trendline with strong bullish momentum, confirming a change of character (CHoCH) and signaling a shift from bearish to bullish structure. The impulsive move from the demand zone shows clear buyer strength after a prolonged downtrend.
Currently, price is holding near the breakout area around 4,680–4,700, which is acting as a support flip zone. As long as this level holds, the market is likely to continue higher.
A sustained move above 4,740 will confirm bullish continuation, opening the path toward the 4,770–4,800 resistance zone. However, if price fails to hold above 4,650, it may indicate a false breakout, leading to a pullback toward the demand zone. Long 
Short 
The Flip, The Double Bottom & The Broadening Pattern Historical price action study · No forecast · No trade calls
01 · The Resistance Zone
The market is a record of agreements. Where price has repeatedly stalled, reversed, and failed to push through — that level becomes meaningful. Its is a region where sellers overwhelmed buyers on multiple distinct occasions over an extended period.
The more times price tested and rejected from this area, the greater the energy building behind it — and the more decisive a genuine breakout would need to be to clear it convincingly.
A resistance zone is not a single price — it is a band of supply where historical participants have sold aggressively. Multiple rejections from this zone, visible in the left portion of the chart, establish its credibility before the eventual breakout.
02 · The Flip — Resistance Becomes Support
One of the most powerful and repeatable dynamics in price action is the polarity flip. When price successfully breaks above a well-established resistance zone with structure and conviction, the nature of that zone changes entirely.
The logic is behavioral: participants who were previously selling at that level are now caught offside. On any pullback to that zone, those who missed the initial breakout see an opportunity to enter at a historically significant level
03 · The Double Bottom
The double bottom is not merely a visual pattern — it is a structural argument. It tells us: the level was tested, defended, and then tested again. Sellers returned and were absorbed. The zone held. That matters.
04 · The Downward Broadening Pattern
The two white lines on the chart connect these swing highs (upper trendline) and swing lows (lower trendline). They are drawn objectively — touching at least two points each — to define the expanding channel that price has been contained within over the relevant historical period.
05 · The Counter Trend Line
The dotted line on the chart, a downwards trend inside an overall pattern .
⚠ DISCLAIMER
This post is intended strictly for educational and informational purposes only. It is a historical price action analysis and does not constitute financial advice, investment guidance, a trade recommendation, or a market forecast of any kind.
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NFP mixed, Fed hawkish – 4,800 false signal?📰 Context
NFP came mixed. Fed speakers pushed back on early cuts. Real yields still a headwind. But physical demand and central banks remain supportive.
📊 H4 Structure
Trendline still intact (rising from early May)
Price compressed between trendline support (~4,700-4,710) and zone resistance (4,763-4,800)
No clear CHOCH yet – still within bullish structure, but losing steam
🔑 Key Levels for Next Week
🟢 Support: 4,656 → 4,625
🟡 Pivot zone: 4,700-4,710 (trendline)
🔴 Resistance: 4,763 → 4,800 → 4,826
⚡️ IF–THEN Scenarios
✅ IF holds above trendline (4,700) + reclaims 4,725
→ grind toward 4,763 → 4,800
❌ IF loses 4,700 + breaks 4,656
→ shift structure → 4,625 → 4,600
🧠 My bias
For me, this still looks like accumulation before another leg up – but only if support holds. I'm not interested in buying the middle of this range. I'd rather wait for a sweep of 4,700 or a clean reclaim of 4,739.
❓ What's your bias for next week?
👇 Drop your level or scenario Long 
