BankNifty Intraday Support & Resistance Levels for 05.02.2025

Tuesday’s session saw a strong rally in BankNifty, opening with a 328-point gap-up at 49,538.80, dipping slightly to a low of 49,482.50, and then surging to a high of 50,206.60. It closed at 50,157.95, gaining 947 points over the previous close. The Weekly Trend (50 SMA) remains Negative, while the Daily Trend (50 SMA) is sideways.

Demand/Support Zones
Near Demand/Support Zone (15m): 49,888.35 - 49,977.05
Far Demand/Support Zone (15m): 48,511.70 - 48,627.95
Far Demand/Support Zone (125m): 47,981.35 - 48,319.20
Far Support Level: 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 (Daily): 49,230.15 - 50,447.60 (Tested multiple times, current price inside the zone)
Far Supply/Resistance Zone (Weekly): 50,485.05 - 51,979.75
Far Supply/Resistance Zone (75m): 50,904.35 - 51,088.90 (Inside the weekly supply zone)

Outlook
BankNifty’s strong recovery brought it inside the Daily Supply Zone, but it still needs to sustain above 50,450 for further upside. The Weekly Trend remains negative, so watch for reactions at key resistance zones. If the momentum continues, the next major hurdle is at Weekly Supply Zone.