Nifty Intraday Analysis — 22 May 2025, Bounce of fall from 24500? A set Up for technical trader with RSI

 
Nifty Intraday Analysis — 22 May 2025, Bounce of fall from 24500? A set Up for technical trader with RSI

Time: 13:16 IST | Timeframe: 15-Minute | Index Level: 24,547.50 (-1.07%)

 Key Observations:

  • Supertrend Indicator: Currently showing a strong downtrend with red cloud overhead. No reversal signal yet.
  • RSI Indicator: Hovering around 30, suggesting oversold conditions. A mild bullish divergence is visible — price made a new low, but RSI formed a higher low.
  • Price Action: Last few candles are small-bodied near the day’s low, indicating possible selling exhaustion.

 Possibility of a Bounce:

There’s a fair chance of an intraday bounce if RSI sustains above 30 and crosses over 35-40, accompanied by a green candle closing above 24,580-24,600. If the Supertrend level breaks on the upside around 24,620-24,650, bounce confirmation strengthens.

Caution: If 24,500 breaks decisively again with high volume, another 50-80 points downside remains open. This is very important for traders i.e a point to short. 

 Intraday Bounce Targets (if triggered):

  • 24,600
  • 24,650
  • 24,700 (strong resistance)

Stoploss: 24,500 spot


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I’m Praveen Kumar, a seasoned Technical Analyst and stock market trader with over 25 years of experience in the Indian equity and derivatives markets. My passion for numbers and patterns led me to a dual career as a Mathematics Teacher and market technician. I specialize in Technical Analysis, with deep expertise in Elliott Wave Theory, derivatives strategies, and market forecasting. Over the years, my analysis and market views have been featured on NDTV Profit as a financial guest, along with published articles on reputed financial web portals, sharing insights on Nifty 50, Bank Nifty, and stock market trends. As a trader and analyst, I focus on interpreting price action, chart patterns, wave counts, and technical indicators to deliver precise market levels and actionable trade ideas. My approach blends classical charting with modern analysis tools to help traders navigate market volatility. Through VieCapital, I aim to share daily market analysis, trading strategies, and educatio…
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