Nifty Outlook: Will Nifty Go Up Tomorrow

In Nifty Outlook we will know, “Will Nifty go up tomorrow?”

Current Status of Nifty

Nifty 50 fell by 73.75 points on May 28, 2025. Nifty closed at around 24,752.45 today, witnessing a decline of about 73.75 points (-0.30%). This is the second consecutive trading day when profit booking or decline has been seen in the market.

Technical Analysis of Nifty50

Current Trend:

• Short-term: According to the daily chart, after the bull run that started from April 2025, Nifty recently made a short-term peak in late May (around 25,200-25,300) and has been showing a slight decline or consolidation for the last few sessions. Today’s decline continues this short-term pullback.
• Medium-term: As per the daily chart (which shows data from 2024), Nifty came down from a big peak (around 26,000+) in early 2025 (down to around 22,000 levels), and has shown a decent recovery since then. The current levels are part of that recovery.
• Long-term: The weekly chart indicates a broad bullish trend that has been in place since mid-2024. However, this week’s candle is red, indicating some pressure from the recent peak.

Important support level of Nifty

• First support: around 24,650 – 24,700. This is the recent low and could act as an immediate support.
• Second support: Around 24,500. This has been an important swing low of the last few weeks and is also a psychological level. If Nifty slips below this, the downtrend could extend.
• Third Support: Around 24,200 – 24,250 and then the psychological level of 24,000. These are important support zones based on previous consolidation and swing points.

Nifty Important Resistance Level

• First Resistance: 25,000 – 25,050. This is an important psychological level and was touched by Nifty recently (on May 26). Crossing this is a must for a bull run.
• Second Resistance: around 25,250 – 25,300. This is the recent peak formed in late May.
• Third Resistance: If Nifty crosses these levels, the next major resistance will be at 26,000 – 26,500.

Nifty Volume

Today’s (May 28) decline has happened on decent volumes (as indicated by the red volume bars), which could indicate some strength in the selling. It will be important to keep an eye on volumes in the coming sessions.

Potential Candlestick Patterns

Looking at the last few daily candles, two consecutive red candles indicate some exhaustion or profit booking after the rally. Tomorrow’s candle will be important to see if this downtrend continues or if some support is formed.

Will Nifty go up tomorrow?

• Let us now know, “Will Nifty go up tomorrow?” If Nifty holds its immediate support level of 24,650: it may consolidate or show a slight recovery and try to move back towards 24,850 – 25,000 levels. Only a decisive breakout above 25,050 will take it towards 25,250-25,300.
• If Nifty slips below 24,650: Selling pressure may increase and it may head towards the next support of 24,500. If 24,500 also breaks, a drop to 24,200-24,250 can be seen.
• Volatility: Given the recent profit booking in the market, volatility may persist tomorrow as well. Global cues and any important domestic news will impact the market.

How to know, ‘Will Nifty go up tomorrow?’

• How the market opens in the morning (gap up, gap down, or flat).
• How is the volume in early trade?
• Price reaction to the support and resistance levels mentioned above.

Disclaimer: This technical analysis is for informational and educational purposes only and should not be considered as any kind of financial advice or buy/sell recommendation. Investing in the stock market is subject to risks, and please consult your financial advisor before making any investment decision.