BankNifty Intraday Support & Resistance Levels for 02.01.2025

On Wednesday, BankNifty opened flat to negative, dipping to a low of 50,485.05 before finding strong bullish support and rallying to a high of 51,321.95. It closed at 51,060.60, gaining 200 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) continues to be negative.

Demand/Support Zones
Near Demand/Support Zone (15m): 50,800.50 - 50,890
Near Demand/Support Zone (15m): 50,485.05 - 50,629.65
Near Demand/Support Zone (Daily): 49,787.10 - 50,983.50 (tested)
Far Support Level: 49,282.64 (61.8% FIBO retracement)

Supply/Resistance Zones
Near Supply/Resistance Zone (15m): 51,767.65 - 51,937.05
Near Supply/Resistance Zone (125m): 52,010.65 - 52,368.30
Far Supply/Resistance Zone (125m): 52,709.40 - 52,911.10
Far Supply/Resistance Zone (Weekly): 53,741.40 - 54,467.35 (tested)