Nifty 50 Analysis - March 12, 2025
The Nifty 50 index remains in a well-defined downward channel on both daily and hourly timeframes, indicating persistent bearish momentum. The daily chart shows the index facing resistance near the 70-period EMA (23,397) and the 100-period EMA (23,616), while price action continues to respect the descending channel. The RSI on the daily chart is at 40.04, suggesting weak momentum and no signs of immediate recovery.
On the hourly timeframe, the index attempted to test the upper boundary of the channel but failed to break above key resistance zones around 22,728, indicating continued selling pressure. The 100-period EMA on the hourly chart at 22,472 acts as a crucial level, with any rejection confirming further downside potential. Today’s 27.40-point drop (-0.12%) aligns with the broader trend, reinforcing that the index remains under bearish control unless it decisively breaks out of the downward structure. Key support levels to watch are around 22,097 and 21,775, while resistance remains strong near 22,728 and 23,348.
The top five gainers in the Nifty 50 today were
