Summary:
Nifty prediction today, September 22, focuses on 23,572 resistance as the index extends its recovery from recent lows. Nifty needs to sustain above 23,400–23,450, while 23,300–23,200 and 23,120 remain important support levels for Tuesday’s session.
The Nifty 50 extended its recovery on Monday, September 21, closing at 23,414.30, up 67.90 points or 0.29%. The index opened at 23,330.20, slipped to an intraday low of 23,314.80 and later moved higher to touch 23,466.80 before closing in the upper half of the day’s range.
Buying interest remained visible near lower levels, with the index continuing to defend its recent support zone. However, Nifty is now approaching an important resistance area that could determine whether the recovery extends further.
Market Breadth and Sectoral Action
Market breadth remained moderately positive. Of the 50 Nifty constituents, 30 stocks closed higher, while 20 ended lower, indicating reasonably broad participation in Monday’s recovery.
Sectoral performance was also supportive. Nifty Pharma, Nifty Realty, Nifty Healthcare and Nifty FMCG emerged among the leading gainers. Strength in defensive and consumption-oriented sectors helped the benchmark sustain its recovery despite the broader short-term trend remaining under pressure.
Short-Term Structure Improves
Monday’s bullish candle extended the recovery from the recent low, while the 23,120 zone continued to act as an important base.
On the hourly chart, Nifty has formed a sequence of higher lows after taking support near 23,120, suggesting that selling pressure has moderated. The 15-minute chart also shows the index moving within a rising channel, indicating an improvement in short-term price structure.
However, the broader setup is yet to turn decisively positive. Nifty continues to trade below several important medium-term EMAs on the daily chart. The immediate challenge is to sustain above the 23,400–23,450 zone and subsequently cross the key resistance at 23,572.
Momentum Indicators Recover
The 14-period daily RSI stands at 36.89 and has started recovering from weak levels, indicating some moderation in selling pressure. However, it remains below the neutral 50 mark, suggesting that broader momentum is still weak.
Shorter time frames are showing better strength. The hourly RSI has improved to around 57, while the 15-minute RSI is near 52. This supports the ongoing recovery, although a sustained move above resistance would provide stronger confirmation.
Key Levels for September 22
For the recovery to continue, Nifty needs to hold above 23,400–23,450 and decisively cross 23,572. A sustained breakout above this level could strengthen the recovery and bring the 23,650–23,775 zone into focus.
On the downside, 23,300–23,200 remains the immediate support area. The 23,120 level is the crucial base on the daily chart and remains important for maintaining the recent higher-low structure.
As long as Nifty holds above 23,120, the short-term recovery can remain intact. However, a decisive break below this support could bring renewed selling pressure and expose lower support zones.
For Tuesday’s session, the key focus will therefore remain on whether Nifty can sustain above 23,400–23,450 and challenge 23,572. A breakout could extend the recovery, while weakness below 23,300 may shift attention back towards 23,200 and 23,120.
