Nifty 50 Intraday Technical Analysis – 23 May 2025

Welcome traders! Let’s dive into today’s Nifty 50 intraday market analysis using key technical indicators like RSI, MACD, chart pattern insights, and the latest live chart update.

 Current Market Snapshot:

• Current Price: 24,891.05 (+1.15%)
• Last Updated: 13:03 IST, 23 May 2025

Key Intraday Levels:

• Resistance: 24,935 / 25,000
• Support: 24,828 / 24,720

RSI Analysis:

The RSI is currently around 60, moving up from oversold zones. The bullish momentum is strengthening but caution is advised if RSI nears 70, which may signal an overbought condition.

MACD Analysis:

MACD has given a bullish crossover with positive histogram bars increasing steadily. This indicates upward momentum for the remainder of the session unless resistance at 24,935 caps it.

Chart Pattern Insight:

A possible double bottom reversal pattern has been spotted on the hourly chart, with a breakout confirmation near 24,850. Sustaining above this level is key for a move toward the psychological 25,000 mark.

Live TradingView Chart:

 Click here to view the live Nifty 50 TradingView Chart

Verdict:

The bias remains moderately bullish for the rest of the session. Keep an eye on 24,935 for possible upside breakout and 24,828 as crucial support.

Happy trading and manage your risk wisely!