July 21, 2025
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Nifty & Nifty Bank Technical Analysis by Samco Securities for 22 July 2025
by Om Mehra, Technical Research Analyst, SAMCO Securities
Nifty rebounds from support zone; short-term up-move likely in offing
Om Mehra, Technical Research Analyst, SAMCO Securities
Nifty settled the session at 25,090.70, advancing 122 points or 0.49%, after bouncing from the lower end of its recent consolidation range. The index formed a bullish candle, recapturing psychological ground above the 25,000 mark and halting a consecutive losing streak.
Nifty managed to close back above the 23.6% Fibonacci retracement level (25,065), which continues to act as an important pivot for short-term direction. The index has reclaimed its position above the 50-day simple moving average but remains below the 9-day and 20-day exponential moving averages. A decisive close above these short-term averages will be crucial for restoring upward momentum.
The Relative Strength Index has edged up to 47, showing early signs of stabilization but remaining below the neutral 50 level. Meanwhile, the MACD displays a wide gap between the fast and signal lines, signalling that the broader recovery still lacks confirmation.
For the upcoming session, holding above the 25,150 mark will be key for the rebound to sustain. The next resistance stands near 25,320, which may limit further upside in the near term. The outlook has shifted from cautious to neutral.
Nifty Bank ended the session at 56,952.75, advancing 1.19%, as the index posted its strongest single-day gain in over two weeks. After testing the rising trendline, it staged a decisive rebound, forming a bullish candle on the daily chart.
The index reclaimed the 9-day EMA, indicating that the short-term sell-off may be easing, although it remains below the 20-day EMA.
The daily RSI has bounced to 54 from sub-50 levels, suggesting a shift toward neutral to positive momentum. Meanwhile, the MACD is hinting at a possible crossover in the sessions ahead, if the follow-through strength continues.
For the next session, 56,600 will act as immediate support, aligning with the rising trendline and recent rebound zones. On the upside, a close above 57,100, followed by a close above 57,200, could unlock further momentum toward 57,450.
The Nifty Private Bank index rose 1.26%, while the Nifty PSU Bank index slipped 0.62%, reflecting a mixed tone within the banking space. For the next session, any intraday dips may present opportunities for re-entry.
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Nifty & Nifty Bank Technical Analysis from Samco Securities
