BankNifty Intraday Support & Resistance Levels for 30.01.2025

On Wednesday, BankNifty opened with a gap-up, showing initial strength. It made a low of 48,849.80, attempted a rally to 49,165.75, but retraced back to 48,859.70 before recovering again to hit the day's high at 49,199.65. Eventually, it closed at 49,165.95, gaining 299 points over the previous close. The Weekly Trend (50 SMA) and the Daily Trend (50 SMA) remains Negative, indicating overall weakness despite short-term recovery.

Demand/Support Zones
Near Demand/Support Zone (15m): 48,511.70 - 48,627.95
Near Demand/Support Zone (30m): 47,981.35 - 48,195.40
Near 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)
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
BankNifty is trading close to a strong supply zone (49,230 - 50,447), making this a crucial resistance level. Failure to break above this zone could lead to another downward move toward 48,000 or lower. However, a decisive breakout above 50,000 could trigger further upside.
With Budget 2025 around the corner, expect heightened volatility in the coming sessions.