*Nifty 50 Reclaims Momentum Near 24,950: Bullish Reversal or Trap?" - 17.05.2025* * Stock Exchange: NSE * Stock Name: Nifty 50 Index * Current Market Price (CMP):* ₹24,946.50 *Current Trend Summary:* * Nifty shows signs of a bullish reversal after a sharp dip; strong buying observed near 20 EMA. *Chart Outlook & Prediction:* * The index bounced back from key moving averages and is trading above short-term EMAs, hinting at bullish momentum. If it sustains above ₹25,000, it can test higher levels like ₹25,200 and ₹25,450. Reversal confirmed above upper Bollinger Band breakout. *Upcoming Events / Catalysts:* * Positive: FII buying trend and pre-budget optimism * Negative: Global inflation data or interest rate comments (Fed/ECB) *Support and Resistance:* * Support: ₹24,800 / ₹24,600 / ₹24,400 * Resistance: ₹25,000 / ₹25,200 / ₹25,450 *Trend, Volume, Dow Theory Analysis:* * Trend: Short-term bullish above 20 EMA * Volume: Volume spike on last green candle signals strength * Dow Theory: Higher low formation; potential uptrend continuation