Nifty Daily Chart Analysis
The Nifty 50 daily chart shows a bearish technical structure and based on the latest market close on May 15, 2026, the index settled at 23,643.50, down 2.20% over the week, indicating persistent selling pressure and profit booking at higher levels.
There is a trendline break out on daily charts in the downside. The previous support of 23,800 – 23,850 the previous support will act as a resistance and a supply zone. Bulls must register a daily close above 24,000 to arrest the current downward momentum and invite short- covering.
RSI (14): Stands at 45.13, indicating an absence of bullish strength but remaining neutral enough to avoid deeply oversold territory on the daily timeframe. The MACD Histogram below zero indicates we might see more downside in coming days.
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