Nifty and Bank Nifty technical analysis and trading signals
Date: May 23, 2025
Author: CapitalKeeper | Market Moves That Matter
Nifty 50 Technical Analysis – May 23, 2025
- Current Price: ₹24,985
- Opening: ₹24,960 | Previous Close: ₹24,962
- Trend: Sideways-to-Positive
1. RSI (Relative Strength Index):
- Value: 58 (Neutral to Mildly Bullish)
- RSI is holding comfortably above 50, suggesting underlying bullish strength, but not in overbought territory yet.
2. MACD (Moving Average Convergence Divergence):
- MACD Line: 88.2
- Signal Line: 84.5
- Histogram: Positive and widening
- Indicates bullish momentum building up gradually, with a potential upside continuation if price confirms breakout.
3. Price Action Analysis:
- Forming a narrow range consolidation near all-time highs
- Inside bar candle formed on the daily chart, suggesting indecision
- Holding above short-term moving averages (20-EMA, 50-EMA)
- A breakout above the range (25,050) can push Nifty toward 25,150–25,200
Key Levels:
- Immediate Support: 24,920
- Next Support: 24,850
- Immediate Resistance: 25,050
- Major Resistance: 25,200
Bank Nifty Technical Analysis – May 23, 2025
- Current Price: ₹53,240
- Opening: ₹53,215 | Previous Close: ₹53,230
- Trend: Rangebound, with upside bias
1. RSI (Relative Strength Index):
- Value: 52
- Bank Nifty is in a neutral RSI zone, indicating indecision among participants. A move above 55 will confirm strength.
2. MACD (Moving Average Convergence Divergence):
- MACD Line: 112.4
- Signal Line: 111.7
- Histogram: Flat to slightly positive
- Suggests low momentum but possible reversal brewing if breakout is supported by volume.
3. Price Action Analysis:
- Trading in a broad horizontal channel between 53,000–53,450
- Candles show long wicks on both ends, indicating intraday volatility
- Sustained move above 53,450 may open the gate to 53,800–54,000
- Holding above the 20-period EMA on hourly chart – a good sign of short-term strength
Key Levels:
- Immediate Support: 53,000
- Next Support: 52,750
- Immediate Resistance: 53,450
- Major Resistance: 53,800
CapitalKeeper Intraday Strategy
| Index | Technical View | RSI | MACD Trend | Action Level | Target | Stop-Loss |
|---|---|---|---|---|---|---|
| Nifty 50 | Bullish Breakout | 58 | Positive | Buy above 25,050 | 25,150–25,200 | 24,920 |
| Bank Nifty | Cautiously Bullish | 52 | Flat | Buy above 53,450 | 53,800–54,000 | 53,000 |
CapitalKeeper Takeaway:
“Both Nifty and Bank Nifty are poised for potential breakouts. Technical indicators favor the bulls, but the absence of volume confirmation may delay the move. Traders should remain patient and wait for price action confirmation above key breakout zones.”
🧾 Disclaimer:
This article is for informational purposes only. It should not be construed as investment advice. Please consult with a SEBI-registered financial advisor before making any financial decisions.
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