Nifty Intraday Support & Resistance Levels for 29.01.2025

On Tuesday, Nifty opened with a gap-up, reflecting initial bullish sentiment. It made a low of 22,857.65 and rallied to a high of 23,137.95, breaking above the 15m Supply Zone. However, the momentum was short-lived as it retraced to close at 22,957.25, gaining 128 points over the previous close. Both the Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain Negative.

Demand/Support Zones
Near Demand/Support Zone (30m): 22,786.90 - 22,843.30
Near Demand/Support Zone (Daily): 21,791.95 - 22,910.15
Far Support Level: 21,281.45 (low from 4th June 2024)

Supply/Resistance Zones
Near Supply/Resistance Zone (5m): 23,118.05 - 23,137.95
Near Supply/Resistance Zone (15m): 23,288.75 - 23,331.30
Near Supply/Resistance Zone (5m): 23,349.20 - 23,421.25
Far 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 failure to sustain above the 15m Supply Zone near 23,137.95 indicates ongoing selling pressure. The 22,800 - 23,000 range remains crucial as a support zone, while resistance near 23,300 - 23,500 could cap further upside. With both trends still Negative, coupled with looming market volatility ahead of Budget 2025, caution is key.