Nifty Technical Analysis Note for June 23, 2025
Current Market Price (CMP): 25,112
Nifty is currently trading just below the immediate support level, which signals a mildly cautious stance in the short term. Here’s a breakdown of the key technical indicators and levels:
Support & Resistance Levels:
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Support Levels:
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S1: 25,238
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S2: 25,363
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S3: 25,716
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Resistance Levels:
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R1: 24,885
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R2: 24,658
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R3: 24,306
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The index is presently near the critical pivot zone between S1 and CMP. A break below S1 could lead to testing lower support zones, while a rebound from current levels could face resistance around R1.
Momentum Indicators:
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RSI: 59 — Indicates neutral-to-bullish momentum, with room to rise before becoming overbought.
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Stochastic RSI & Stochastics: Both indicate positive momentum, suggesting potential upside if buying interest continues.
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MACD Line (121) vs Signal Line (147): Though the MACD line is currently below the signal line, the narrowing gap implies a potential bullish crossover if momentum sustains.
Outlook:
The technical setup suggests a cautiously optimistic bias. Positive momentum indicators support the possibility of a short-term rebound, especially if the index holds above 25,100. A breakout above 25,238 would confirm renewed strength, while a slip below 25,000 may shift sentiment to the downside.
Conclusion:
Watch for price action near 25,238. A close above this level could open the path toward 25,363 and 25,716. On the downside, breaching 24,885 may invite selling pressure.
Nifty Bank (56253)
On Friday, Bank nifty recovered and closed at 56253, Now on Monday, technically, Bank Nifty is expected to show strong rise at the opening bell, however the US attack on Iran on Saturday night, will affect the sentiment at the opening bell.
* On lower side, it is expected to decline to 55770
* On higher side, it is expected to move up to 56532
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