The Nifty 50, a benchmark index of the National Stock Exchange (NSE) in India, has shown a bullish trend recently, but its performance for the upcoming week (starting May 5, 2025) will likely be influenced by a mix of technical levels, macroeconomic factors, and market sentiment. Below is an overview based on recent analyses and market data:
Technical Analysis
Current Levels and Trend: The Nifty 50 closed at 24,313 on May 2, 2025, reflecting a bullish trend with a 0.24% weekly gain, a 4.98% monthly increase, and a 7.88% yearly rise. The index is trading above key daily moving averages (5, 10, 20, 50, 100, and 200 DMA), signalling sustained bullish momentum.
Support and Resistance:
Support: Immediate support lies at 24,000–24,124, a strong demand zone on intraday and higher timeframes. A break and close of 4 hour candle below 24,000 could lead to a correction toward 23,500 or lower.
Resistance: The index faces resistance at 24,433–24,550. A decisive close above 24,600 could trigger a rally toward 25,300–25,700 or even 26,000
Volatility: Volatility is expected to persist due to global uncertainties and high VIX levels (above 18). Consolidation is likely unless the index decisively breaks 24,500.
Technical Analysis
Current Levels and Trend: The Nifty 50 closed at 24,313 on May 2, 2025, reflecting a bullish trend with a 0.24% weekly gain, a 4.98% monthly increase, and a 7.88% yearly rise. The index is trading above key daily moving averages (5, 10, 20, 50, 100, and 200 DMA), signalling sustained bullish momentum.
Support and Resistance:
Support: Immediate support lies at 24,000–24,124, a strong demand zone on intraday and higher timeframes. A break and close of 4 hour candle below 24,000 could lead to a correction toward 23,500 or lower.
Resistance: The index faces resistance at 24,433–24,550. A decisive close above 24,600 could trigger a rally toward 25,300–25,700 or even 26,000
Volatility: Volatility is expected to persist due to global uncertainties and high VIX levels (above 18). Consolidation is likely unless the index decisively breaks 24,500.
renderwithme
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
renderwithme
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.