25-05-2025 | Weekly BNF, NF TA | Weekly Inside Candle within Range But Mild Bullish Close | Indian Market Update

Index Weekly Update 25-05-2025

Lets analyse Bank Nifty & Nifty 50 index price action, as we move closer towards May Series Monthly Expiry.

Bank Nifty Future

1) Weekly TF:

• As expected in last week analysis, BNF was in sideways within established support & Resistance.
• BNF formed Dragonfly doji candlestick in weekly TF and closed near previous weeks close.
• Range in BNF is marked (RED & GREEN rectangle zone) & 4 time bounced from support level.
• This week's Price Action confirmed bullishness like last week's wide bullish candle.
• Now BNF has support at 54650 & AVWAP support at 54085.
• Next week is expected to be mildly bullish, but need to sustain above resistance zone.

2) Daily TF:

Indicators: RSI, MACD, VOL (as per order in chart)

• BNF faced resistance on Monday & got rejected by Tuesday from the top of the range.
• Once BNF got rejected, it tested the demand zone marked as GREEN Zone and bounced.
• Still BNF is moving inside the range of previous week's Monday candle 12/05/2025.
• Breakout from the candle & sustaining RED or GREEN zone will decide further direction.
• Indicator, RSI is moving around 50 and still holding higher range as price is in sideways.
• MACD continued to reamin in negative zone below zero, but not showing any strength in selling.
• For next week, BNF has resistance around 55,900 & 56,200 and support at 54,650 & 54,400.

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Nifty Future

1) Weekly TF:

• Last week NF formed inside candle, but closed above 50% of previous candle.
• NF also closed above RED AVWAP from ATH, which again shows strength in the index.
• Still NF facing resistance around Fibo level 25150, which is also selling zone (RED Zone).
• NF managed to close above previous swing reference formed on December 2024.
• NF has resistance around 24,150 to 25,350 and support at 24,360.

2) Daily TF:

Indicators: RSI, MACD, VOL (as per order in chart)

• Last week friday closing near resistance, Monday NF faced rejection from resistance.
• As expected NF is sideways last week and closed below Monday's range. (Mild bearish close).
• RSI mande a swing low and bounced during Friday, but price didn't make new swing low.
• MACD turned negative and stayed below zero till friday, milde bearish.
• Both RSI +ve & MACD -ve shows sideways, and strength is still missing to break this range.
• NF possible to continue sideways and need fresh buyers above this range to continue higher.

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Acronym

BNF: Bank Nifty Future.

NF: Nifty Future.

BO: Breakout.

BD: Breakdown.

HH-HL: Higher High, Higher Low

LH-LL: Lower High, Lower Low

TF: Time Frame.

LT: Long Term

ST: Short Term

ATH: All Time High.

PA: Price Action.

PDC: Previous Day Close

TL: Trend Line.

Keep Learning 🕮

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