BankNifty Intraday Support & Resistance Levels for 22.01.2025

22 Jan

Tuesday's session saw extreme volatility, with BankNifty opening positive and made day high of 49,543.15. However, it faced heavy selling pressure, dropping to 48,692, followed by a bounce to 49,280.70, and finally sliding to a day low of 48,430.95, entering the 125m Demand Zone. It closed at 48,570.90, losing 780 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) stays negative.

Demand/Support Zones
Near Demand/Support Zone (125m): 48,375.60 - 48,610.10 (current price inside the zone)
Far Demand/Support Zone (30m): 47,950.15 - 48,117.75
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 Supply/Resistance Zone (75m): 49,787.70 - 49,979.05
Near Supply/Resistance Zone (Daily): 49,230.15 - 50,447.60 (tested)
Far Supply/Resistance Zone (75m): 50,904.35 - 51,088.90

Outlook
BankNifty is currently in the 125m Demand Zone (48,375.60 - 48,610.10), which could offer support. If this zone holds, we may see a bounce. However, a break below could lead to further downside.

22 Jan

Dagangan ditutup: sasaran tercapai

BankNIfty took support at 30m Demand zone (47,950.15 - 48,117.75) and rallied 600+ points from day low.