Technicals

Trade setup for May 23: Top 15 things to know before the opening bell

The Nifty50 managed to defend the crucial 24,450–24,500 zone on a closing basis. This zone remains pivotal, as a breakdown could push the index further down toward 24,350, while holding above this level may open the path for a rebound towards the 24,800–24,900 range, according to experts.

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Consolidation is likely to continue, with the indices attempting to defend the previous Thursday’s low in the upcoming session. Below are some short-term trading ideas to consider.

Technical View: Bears may take control if Nifty decisively breaks 24,450 support; 54,550 key level for Bank Nifty

Weekly options data suggest that Nifty may trade in the 24,000–25,500 range in the near term.

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Trading Plan: Will Nifty 50 defend 24,650, Bank Nifty sustain above 54,500 amid likely consolidation?

As long as the Nifty 50 defends the 24,650 zone, a march toward 25,000–25,100 can’t be ruled out in the upcoming sessions. However, falling below this level could drag the index down toward 24,500, a key support zone.

Trade setup for May 22: Top 15 things to know before the opening bell

If the Nifty 50 index decisively breaks these levels, the selling pressure may drag the index down toward 24,500, the crucial support zone. However, in case the index extends northward journey amid likely rangebound trading, it may face resistance at 25,000 mark, experts said.

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The market is expected to continue rangebound trading in the upcoming sessions. Below are some short-term trading ideas to consider.

Technical view: Decisive move will come in Nifty only after it breaks 24,400-25,200 range

Market participants said the Nifty formed a small bullish candle with a long upper shadow, indicating resistance at higher levels.

Trading Plan: Will Nifty 50, Bank Nifty extend southward journey amid rangebound trading?

If the Nifty 50 falls below 24,500, it may find support at 24,380 (the upper end of the bullish gap), while on the higher side, it may face resistance in the 25,000–25,116 zone, according to experts.

Trade setup for May 21: Top 15 things to know before the opening bell

With 24,500 acting as immediate support, the Nifty 50 may attempt to rebound toward the 25,000 zone. However, a fall below and sustained trading under 24,500 could drive the index down toward the next key support at 24,380, which corresponds to the upper band of the gap-up from May 12, according to experts.

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The market is likely to continue trading in a range within last Thursday’s high and low. Below are some short-term trading ideas to consider.

Technical View: Selling pressure could intensify if Nifty breaks key support of 24,500, 54,400 crucial for Bank Nifty

The weekly options data suggests that the Nifty 50 may trade in the 24,500–25,000 range in the short term.

Trading Plan: Will Nifty 50 reclaim 25,100, Bank Nifty surpass 55,700 amid possible consolidation?

According to experts, the Nifty 50 may attempt a consolidation breakout and inch toward 25,100–25,200, but in the case of a correction, healthy support is placed at 24,850–24,800. The Bank Nifty may attempt to extend its upward journey toward 55,700–56,000, provided it defends 55,000 as a support.

Trade setup for May 20: Top 15 things to know before the opening bell

The expected trading range for the Nifty 50 could be within the 24,800–25,200 zone in the short term. A decisive break below 24,800 could trigger major selling pressure, whereas a break above 25,200 may open the doors for a move towards 25,500–25,700, experts said.

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The market is likely to consolidate further and may attempt to surpass last Thursday's swing high. Below are some short-term trading ideas to consider.

Technical View: 25,000 emerges as key level for Nifty's next move; India VIX rebounds after 5-day decline

As per weekly options data, the 25,000 level is expected to remain a crucial zone for further direction in the Nifty 50, with immediate support at 24,800 and resistance at 25,200.

Trade setup for May 19: Top 15 things to know before the opening bell

As long as the Nifty 50 defends the 24,850–24,800 zone (the support area), the bullish bias may push it toward the 25,200–25,300 zone in the short term, followed by 25,500–25,700, which represents a crucial hurdle before reaching the record high, experts said.

Trading Plan: Will bullish momentum help Nifty 50 march toward 25,200, Bank Nifty surpass 55,500 next week?

Given that technical indicators are in a healthy position, the Nifty 50 is expected to gradually march toward the 25,200–25,300 zone, the immediate key resistance area. Sustaining above this level can open the door to 25,500–25,700, while key support is placed at 24,800, according to experts.

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The market is expected to remain in positive terrain despite intermittent consolidation. Below are some short-term trading ideas to consider.

Volatility may still test patience, but optimism clearly taking centre stage, Nifty sees immediate hurdle at 25,300

With India VIX cooling back near 16, nerves are easing. And with signs of short covering and healthy OI trends, the tide appears to be turning in favour of the bulls.

Chartist Talks: SBI Securities' Sudeep Shah bullish on these 6 stocks, but recommends avoiding fresh position in defence sector

From a technical standpoint, the current chart structure suggests that the bullish momentum is likely to extend into the coming week, said Sudeep Shah of SBI Securities who expects the Nifty to move toward 25,300 in the short term, with the potential to stretch further toward 25,600.

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Chartist Talks: ICICI Securities' Dharmesh Shah expects Nifty to clock a fresh all-time high in coming quarter

Dharmesh Shah of ICICI Secuities believes the Bank Nifty is undergoing healthy consolidation that would set the stage for next leg of up move towards 57,000 in coming months.

Technical View: Nifty takes breather but ongoing bullish momentum may drive index toward 25,500 with weakening VIX

Experts expect the Nifty 50 to inch toward 25,300 (the 78.6 percent Fibonacci retracement of 26,277–21,744), followed by 25,500 as a key resistance. However, support is placed at 24,800, and then 24,500, as a breach below this level may open the door to selling pressure