Nifty Support & Resistance Levels for Budget Day 01.02.2025
Friday’s session saw strong bullish momentum, with Nifty opening positive, making a day low of 23,277.40, and rallying to a high of 23,546.80 by the end of the session, entering the Daily Supply/Resistance Zone (23,496.15 - 23,795.20). The index closed at 23,508.40, gaining 259 points over the previous close. The Weekly and Daily Trends (50 SMA) are now sideways, indicating a potential shift in market sentiment.
Demand/Support Zones
Near Demand/Support Zone (15m): 23,141 - 23,205.70
Near Demand/Support Zone (30m): 22,786.90 - 22,843.30
Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 (Tested)
Far Support Level: 21,281.45 (Low from 4th June 2024)
Supply/Resistance Zones
Near Supply/Resistance Zone (Daily): 23,496.15 - 23,795.20
Far Supply/Resistance Zone (75m): 23,645.05 - 23,726.85
Far Supply/Resistance Zone (Daily): 23,976 - 24,196.45
Far Supply/Resistance Zone (Daily): 24,601.75 - 24,782.15
Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30
Outlook
With the Union Budget 2025 being presented in Parliament, expect heightened volatility during Saturday’s special trading session on 1st February. For intraday trading, focus on higher time frame zones (75m, Daily, Weekly) rather than lower time frames (30m, 15m, 5m) for better clarity and reduced noise.
Demand/Support Zones
Near Demand/Support Zone (15m): 23,141 - 23,205.70
Near Demand/Support Zone (30m): 22,786.90 - 22,843.30
Far Demand/Support Zone (Daily): 21,791.95 - 22,910.15 (Tested)
Far Support Level: 21,281.45 (Low from 4th June 2024)
Supply/Resistance Zones
Near Supply/Resistance Zone (Daily): 23,496.15 - 23,795.20
Far Supply/Resistance Zone (75m): 23,645.05 - 23,726.85
Far Supply/Resistance Zone (Daily): 23,976 - 24,196.45
Far Supply/Resistance Zone (Daily): 24,601.75 - 24,782.15
Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30
Outlook
With the Union Budget 2025 being presented in Parliament, expect heightened volatility during Saturday’s special trading session on 1st February. For intraday trading, focus on higher time frame zones (75m, Daily, Weekly) rather than lower time frames (30m, 15m, 5m) for better clarity and reduced noise.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.