Nifty 50 Outlook for 23rd May 2025 (Friday) – Crucial Pre-Expiry Session
Market Recap (22nd May): Nifty 50 closed at 24,609.70 , down 203.75 pts (-0.82%) , but staged a strong intraday recovery from the lows . Bank Nifty showed relative strength , down just 0.24% , suggesting financials were not under heavy pressure. India VIX fell 1.65% to 17.25 , indicating reduced volatility despite the correction , hinting at intraday short covering . Global Market Context (as of 20:26 IST) Dow Jones : -128.88 pts (-0.31%) S&P 500 : -0.25% Nasdaq : +0.22% S&P VIX : +1.15% Interpretation: The US market is mixed , with tech (Nasdaq) holding strong, which may lend support to Indian IT majors on Friday. Rising US VIX shows some caution globally. Technical Snapshot – Top Nifty Contributors (as of 22 May close) Stock Bias Key Technical Note Reliance Mildly bearish Near short-term support HDFC Bank Oversold Bounce expected from RSI zone ICICI Bank Neutral-bullish Sideways, holding above key moving averages Infosys Bu...