Nifty Intraday Support & Resistance Levels for 17.02.2025

Friday’s session saw Nifty opening with a gap-up, but it failed to sustain the momentum. After hitting a high of 23,133.70, it reversed sharply, making a low of 22,774.85, testing the Daily Demand Zone (22,642.60 - 22,910.15) for the third time. A partial recovery followed, but Nifty still closed at 22,929.25, losing 102 points from the previous close. The Weekly Trend (50 SMA) and Daily Trend (50 SMA) remain sideways, signaling indecision.

Demand/Support Zones
Near Demand/Support Zone (Daily): 22,642.60 - 22,910.15 (Tested multiple times)
Far Support Level: 21,281.45 (Low of 4th June 2024)
Far Demand/Support Zone (Daily): 20,769.50 - 20,950

Supply/Resistance Zones
Near Supply/Resistance Zone (75m): 23,248.45 - 23,301.75
Near Supply/Resistance Zone (125m): 23,316.30 - 23,409.65
Near Supply/Resistance Zone (Daily): 23,443.20 - 23,807.30
Far Supply/Resistance Zone (Daily): 23,976 - 24,196.45
Far Supply/Resistance Zone (Weekly): 24,180.80 - 24,792.30

Outlook
Nifty’s repeated tests of the daily demand zone suggest that buyers are still active, but a break below 22,640 - 22,600 could trigger further downside toward 21,281. On the upside, a move above 23,250 - 23,300 could open the door for a push toward 23,800 - 24,000.