Nifty50, Bank Nifty follow predicted path; May 19 turns out to be key turning point

In our previous week’s outlook, we highlighted May 19 as a highly significant date for market momentum—and the market action did not disappoint.

Bank Nifty formed a peak on that date, registering an intraday high of 55,695.55, nearly identical to our published resistance zone at 55,696.

From there, it reversed sharply and declined toward our identified support level at 54,750, eventually bottoming at 54,756, which confirmed our forecast with high accuracy.

Similarly, the Nifty tested our key resistance level at 25,083, reaching a high of 25,063 on May 19—just shy of the projected zone.

This was followed by a substantial correction of nearly 600 points, as the index slid toward our next support zone at 24,450, which had also been shared in the prior outlook.Even the Dow Jones made a swing top on May 19, after which a heavy fall began—adding further validation to our timing model.Moreover, our intraday time windows aligned remarkably well with market movements throughout the week.

On Monday, May 19, the day’s high was formed around 10:10 AM, exactly as we had projected. On Tuesday, strong momentum began building near 1:20 PM and lasted until about 2:40 PM, once again in line with our forecast.

Wednesday, May 21, saw another sharp move beginning at 11:35 AM, while on Thursday, May 22, selling pressure eased right around 1:25 PM, matching our projected window. Finally, on Friday, May 23, the day’s high was established near 1:20 PM, precisely as forecasted.

These accurate intraday timings offered traders valuable opportunities to capitalize on the market’s rhythm and volatility throughout the week.

The strong alignment between price levels and time cycles reinforces the importance of combining technical price zones with time-based analysis for tactical market entries.

Here are the high-probability intraday windows to monitor for scalping setups, reactive trades, and volatility plays:

ETMarkets.com

Upside Resistance Levels: 24,978 → 25,083 → 25,323 → 25,435

Downside Support Levels: 24,535 → 24,450 → 24,140 → 23,820

Upside Resistance Levels: 55,960 → 56,180 → 56,650 → 57,600

Support Zones: 54,750 → 54,289 → 53,910 → 51,889

(The author Harshubh Mahesh Shah is Director, Wealthview Analytics Pvt Ltd)

(Disclaimer: Recommendations, suggestions, views, and opinions given by experts are their own. These do not represent the views of The Economic Times.)