Nifty Intraday Support & Resistance Levels for 20.02.2025

Wednesday’s session saw Nifty opening gap-down, touching a low of 22,814.85, before staging a sharp recovery to 23,049.95. However, selling pressure kicked in at higher levels, leading to a close at 22,932.90, down 12 points from the previous close. The Weekly and Daily Trends (50 SMA) remain sideways, reflecting market indecision.

Demand/Support Zones
Near Demand/Support Zone (Daily): 22,620.35 - 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): 23,176.15 - 23,235.50
Far Supply/Resistance Zone (75m): 23,248.45 - 23,301.75
Far Supply/Resistance Zone (125m): 23,316.30 - 23,409.65
Far 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
For the last four trading sessions, Nifty has been finding support near 22,700 - 22,800, but struggling to close above 23,000. If it crosses 23,000 - 23,050, we may see an up move toward 23,200. However, multiple supply zones between 23,176 - 23,400 could act as resistance, leading to renewed selling pressure.