Nifty Outlook for 25 May 2023

Ruchit Jain Ruchit Jain

Last Updated: 25th May 2023 - 10:25 am

Listen icon

Our markets started the day on a negative note in Wednesday’s session and witnessed a pullback move from the lows. However, the index again corrected in the later part of the day and ended around the opening levels below 18300 with a loss of about one-third of a percent.

Nifty Today:

Since last few days, Nifty has been consolidating in a range and has taken support above the 20 DEMA support. This seems to a time wise corrective phase as the momentum readings were in overbought zone. In derivatives segment, we have not yet seen any short formations during correction which is a good sign. The ‘20 DEMA’ support for Nifty is now placed around 18150 which will be seen as immediate support. On the higher side, 18400-18450 range continues to be the resistance zone. In options segment, call writing is seen at 18400 strike while 18200 put option has decent open interest outstanding. Looking at the data, it seems that the consolidation could continue on the expiry day as well and either built up of fresh positions in the new F&O series or a breakout beyond the recent trading range will lead to the next directional move. Traders are advised to trade with a stock specific approach and trade with a ‘Buy on dip’ approach in the index.

                                                                 Market consolidates in a range, 18400-18450 key hurdle

Nifty Outlook Graph

The intraday supports for the coming session are placed around 18190 and 18100 while resistances are seen around 18310 and 18360.

 

Nifty, Bank Nifty Levels and FINNIFTY Levels:

 

Nifty Levels

Bank Nifty Levels

           FINNIFTY Levels

Support 1

18190

43500

                     19170

Support 2

18100 

43400

                    19100 

Resistance 1

18310

43900

                     19380

Resistance 2

18360

44000

                     19500 

How do you rate this article?
Characters remaining (1500)

FREE Trading & Demat Account
+91
''
By proceeding, you agree to our T&Cs*
Mobile No. belongs to
hero_form

Market Outlook Related Articles

Market Outlook for 18th November 2024

by Sachin Gupta 14th Nov 2024

Market Outlook for 14th November 2024

by Ruchit Jain 13th Nov 2024

Market Outlook for 13th November 2024

by Ruchit Jain 13th Nov 2024

Market Outlook for 12th November 2024

by Ruchit Jain 11th Nov 2024

Market Outlook for 11th November 2024

by Sachin Gupta 8th Nov 2024

Disclaimer: Investment in securities market are subject to market risks, read all the related documents carefully before investing. For detailed disclaimer please Click here.

Want to Use 5paisa
Trading App?