BankNifty Intraday Support & Resistance Levels for 21.01.2025

On Monday, BankNifty opened gap-up, dipped to a low of 48,683.60, and rallied to a high of 49,650.60, once again entering the Daily Supply Zone. It closed at 49,350.80, gaining a robust 810 points over the previous close. The Weekly Trend (50 SMA) remains sideways, while the Daily Trend (50 SMA) is still negative.

Demand/Support Zones
Near Demand/Support Zone (15m): 48,950.10 - 49,064.80
Near Demand/Support Zone (125m): 48,375.60 - 48,610.10
Far Demand/Support Zone (15m): 47,950.15 - 48,117.75
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 (75m): 49,787.70 - 49,979.05
Near Supply/Resistance Zone (Daily): 49,230.15 - 50,447.60 (current price inside this zone)
Far Supply/Resistance Zone (75m): 50,904.35 - 51,088.90

Outlook
BankNifty found support near 48,300 and has once again entered the Daily Supply Zone (49,230.15 - 50,447.60). If the 15m Demand Zone (48,950.10 - 49,064.80) remains unbroken, we could witness a rally toward 49,750 or even 50,000 in the upcoming sessions.