BankNifty Intraday Support & Resistance Levels for 17.02.2025

Friday’s session saw BankNifty opening positive, but it failed to hold gains. After touching a high of 49,592.95, it witnessed a sharp decline to 48,719.75 before recovering slightly. It finally closed at 49,099.45, losing 260 points from the previous close. The Weekly Trend (50 SMA) remains negative, while the Daily Trend (50 SMA) is sideways, indicating uncertainty in direction.

Demand/Support Zones
Near Demand/Support Zone (125m): 47,981.35 - 48,319.20
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): 49,276.10 - 49,592.95
Near Supply/Resistance Zone (30m): 49,665.95 - 49,743.15
Far Supply/Resistance Zone (30m): 50,146.10 - 50,248.35
Far Supply/Resistance Zone (Weekly): 50,485.05 - 51,979.75 (Tested)
Far Supply/Resistance Zone (Weekly): 52,264.55 - 53,775.10

Outlook
BankNifty’s failure to sustain gains suggests that sellers remain dominant at higher levels. A break below 48,700 could lead to further weakness toward 48,320 - 47,980 or even 46,000, while a move above 49,750 may bring 50,250 - 51,000 into play.