Nifty Intraday Support & Resistance Levels for 20.03.2025

Market Recap:
On Wednesday, Nifty opened gap-up, dipped to a low of 22,807.95, and then rallied to a high of 22,940.70, entering the 75m Supply Zone (22,915.30 - 23,049.95). It closed at 22,907.60, gaining 73 points over the previous close. The Weekly Trend (50 SMA) remains negative, while the Daily Trend (50 SMA) has turned sideways from negative.

Demand/Support Zones
Near Demand/Support Zone (30m): 22,770.35 - 22,798.30
Near Demand/Support Zone (15m): 22,697.75 - 22,736.30
Far Demand/Support Zone (Daily): 21,964.60 - 22,261.55
Far Support: 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): 22,915.30 - 23,049.95 (Tested)
Far Supply/Resistance Zone (125m): 23,144.05 - 23,235.50
Far Supply/Resistance Zone (125m): 23,316.30 - 23,409.65
Far Supply/Resistance Zone (Weekly): 23,222 - 23,807.30

Outlook
As expected, Nifty held the Daily Demand Zone and rallied past the 50% retracement level (22,885.95). The short-term trend remains bullish, and if the momentum sustains, Nifty could extend the rally towards 23,103 or even the Weekly Supply Zone at 23,222 in the coming days.
🚨 However, caution is advised as Nifty has touched the 75m Supply Zone today, which may lead to some selling pressure.