The Indian markets witnessed a dip last week, with the Nifty falling from 24,346 on May 2 to 24,008 on May 9 — a weekly loss of 1.3%.
Despite the pullback, the index managed to close above the psychological 24,000 mark, which may offer short-term stability. However, volatility remains elevated, especially in light of the ongoing geopolitical tension between India and Pakistan.
Operation Sindoor, launched on May 7, triggered a knee-jerk reaction not only in equities but also in the currency market. The Indian Rupee has weakened by 1.1% since the operation began, highlighting the risk-sensitive environment investors are currently navigating.
As the market digests these developments, short-term traders and intraday participants should mark their calendars for the week of May 12–19. Several key time slots during the trading sessions may offer actionable volatility windows ideal for scalping or quick momentum-based trades.
For instance, May 12 shows early action at 9:20 AM, mid-morning at 11:00 AM, and post-lunch at 1:20 PM. Similarly, May 14 and May 16 offer multiple intraday opportunities around midday and late afternoon.
But the date to watch out for is May 19, 2025 — marked as the Special Monthly Momentum Day. Price action around this date may either validate or shift the ongoing trend.
It presents a critical opportunity for traders to consider confirmation entries, book partial profits, or make protective adjustments in their portfolios.
Technically, Nifty spot levels to monitor on the upside include 24,450, 24,538, and further up to 25,089. On the downside, supports are seen at 24,330, 24,142, and as low as 23,320.
For Bank Nifty, bullish zones are at 55,960 and 57,600, while key supports rest at 53,922 and 48,736.
Traders are advised to remain nimble and strategic, especially with geopolitical headlines influencing both sentiment and price movement. May 19 could offer the needed clarity to define the next phase of market action.
