BankNifty Support & Resistance Levels for Budget Day 01.02.2025Friday’s session was marked by strong volatility, with BankNifty opening negative and making a day low of 49,031.80 before rallying to 49,674.80. It then dropped to 49,302, only to surge again, closing at 49,587.20, gaining 275 points over the previous close. The Weekly Trend (50 SMA) remains negative, while the Daily Trend (50 SMA) has turned sideways, indicating potential consolidation.
Demand/Support Zones
Near Demand/Support Zone (15m): 49,031.80 - 49,167.90
Near 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 from 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 this zone)
Near Supply/Resistance Zone (75m): 49,787.70 - 49,979.05 (Inside the Daily Supply 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
With the Union Budget 2025 set to be presented in Parliament, expect high volatility in Saturday’s special trading session (1st February). For intraday trading, focus on higher time frame zones (75m, Daily, Weekly) instead of lower time frames (30m, 15m, 5m) for better clarity and precision.
