Nifty Intraday Support & Resistance Levels for 23.01.2025

On Wednesday, Nifty delivered a positive performance, opening strong and dipping to a low of 22,981.30. In the final trading hour, it rallied to a high of 23,169.55 and closed at 23,155.35, gaining 130 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): 22,986 - 23,029.55
Near Demand/Support Zone (Daily): 21,791.95 - 22,910.15

Supply/Resistance Zones
Near Supply/Resistance Zone (5m): 23,349.20 - 23,421.25
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
Nifty's rally in the final hour shows strength, but resistance looms near 23,350 - 23,420. A breakout above this level could open doors to 23,500+, testing the Daily Supply Zone. On the downside, the 15m Demand Zone (22,986 - 23,029.55) may act as a strong support. Watch these levels closely for the next move!