Nifty Analysis by Angel One
For July 22, 2025
Nifty write up by Rajesh Bhosale, Equity Technical Analyst, Angel One
Nifty Slips Further on Weekly Expiry Day, Approaches Crucial Support Zone
The day began on a mildly positive note above the 25500 mark, but the lack of follow-up buying led to immediate weakness. Prices gradually drifted lower through the session, and despite a brief intraday bounce, it failed to sustain. Nifty eventually closed with a loss of 0.47%, ending just above the 25350 mark.
On the weekly expiry day, technically, not much has changed in the broader structure. The index continues to oscillate within a defined trading range, and with today’s decline, prices have moved closer to the lower end of the range. Towards the end of June, Nifty had broken out of a six-week consolidation, but after an initial upward move, it has slipped back into a time-wise correction. The previous breakout zone around 25250–25200, which also aligns with the 20-DEMA, has served as a reliable support in the recent past. This area is expected to remain pivotal in the coming sessions. Given that trend reversal moves are usually sharp and swift, the current sluggishness in price action points more towards a time-wise correction rather than a structural breakdown. As such, our bias continues to favor the primary uptrend, and we anticipate a positive turnaround if key supports hold. On the higher side, 25500 stands as immediate resistance, while a decisive move above 25600 would be needed to trigger broader-based momentum and resume the upward trajectory. On the sectoral front, broader markets have remained lacklustre, with the Midcap Index also retesting its 20-DEMA and key retracement levels, making this an ideal point for a potential bounce. Traders should keep a close eye on this space, as any sign of strength could lead to a swift recovery in midcaps. Additionally, the IT sector is expected to remain in focus as the earnings season kicks off, starting with key heavyweights from the space.
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