Nifty & Bank Nifty Technical Analysis Today: Key Levels, RSI, MACD Signals

As of May 21, 2025, both the Nifty 50 and Bank Nifty indices exhibit technical patterns suggesting cautious trading strategies. Here’s a detailed analysis:

📊 Nifty 50 Technical Analysis

Current Status: The Nifty 50 closed at 24,683 on May 20, 2025, forming a long bearish candlestick on the daily chart with above-average volumes, indicating potential weakness. Moneycontrol
Support Levels:
- 24,658
- 24,577
- 24,447
Resistance Levels:
- 25,000
- 25,100
- 25,500
Technical Indicators:
- RSI: Stands at 57.97 with a negative crossover, though still above the neutral 50 mark, suggesting weakening momentum.
- MACD: On the verge of a negative crossover but remains above the zero line, indicating potential for further downside.
Strategy: Traders might consider a cautious approach, watching for a break below support levels for potential short positions, while a move above resistance could signal buying opportunities.

🏦 Bank Nifty Technical Analysis

Current Status: Bank Nifty closed at 54,877 on May 20, 2025, forming a bearish candle with a lower high and lower low, signaling profit booking at higher levels.
Support Levels:
- 54,809
- 54,635
- 54,353
Resistance Levels:
- 55,374
- 55,548
- 55,831
- Technical Indicators:
- RSI: At 56.32 with a negative crossover, indicating potential for further downside.
- Bollinger Bands: The index has fallen below the midline, suggesting increased volatility.
Strategy: As long as Bank Nifty remains below 55,290, further weakness is likely. Traders may adopt a sell-on-rise approach, with close monitoring of support levels for potential rebounds.

Note: These analyses are based on current technical indicators and market conditions. Traders should consider their risk tolerance and consult with financial advisors before making investment decisions.