BankNifty Intraday Support & Resistance Levels for 17.03.2025

Thursday’s session saw BankNifty opening with a gap-up, hitting a high of 48,352.45, but failing to sustain, dropping to a low of 48,006.10 by the end of the day. It closed flat at 48,060.40, gaining just 3.75 points from the previous close. Both the Weekly and Daily Trends (50 SMA) remain negative.

Demand/Support Zones
Near Support: Around 47,850 (Multiple supports on the Daily Chart)
Far Support: 46,077.85 (Low of 4th June 2024)
Far Demand/Support Zone (Daily): 44,633.85 - 45,750.40

Supply/Resistance Zones
Near Minor Supply/Resistance Zone (15m): 48,445.25 - 48,530.55
Near Supply/Resistance Zone (125m): 48,743.80 - 48,911.90 (Tested)
Near Supply/Resistance Zone (Daily): 48,764 - 49,455.80 (Tested multiple times)
Far Supply/Resistance Zone (75m): 49,665.95 - 49,829.40
Far Supply/Resistance Zone (Weekly): 50,485.05 - 51,979.75 (Tested)

Outlook
On 11th March, BankNifty broke the multiple-time-tested support at 47,850, making a new low of 47,702.90 and closing below 48,000. However, on 12th & 13th March, it managed to reclaim 48,000 (a key psychological level).
If 48,000 holds, we might see bullish momentum in the coming sessions, with potential upside towards 48,400 - 48,750, and even 49,500 if momentum sustains. However, multiple resistance zones above may keep price movements in check.