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Nifty

The Nifty index started the week on a modest negative note, opening nearly 165 points lower at 23,482.20. Following the weak opening, the index witnessed further correction and slipped to the week’s low of 23,317.10. However, the market showed resilience at lower levels, which attracted strong buying interest and led to a sharp recovery. The index subsequently rallied to mark the week’s high of 23,859.90, indicating sustained buying momentum and improved market sentiment. By the end of the week, Nifty settled at 23,719.30, registering a gain of 75.80 points, or 0.32%.

From a technical perspective, the RSI on the weekly timeframe stands at 42.69, reflecting a gradual recovery in momentum while still remaining in the neutral zone. Overall, the price action suggests that the index is attempting to stabilize after recent volatility, with buying emerging at lower levels and traders closely monitoring key breakout zones for further directional cues.

On the upside, immediate resistance levels are placed at 23,900 and 24,000. On the downside, support is seen at 23,250 and 23,000. A breakdown below the 23,000 mark could trigger fresh selling pressure in the near term. Considering the current market setup, traders are advised to remain disciplined and follow strict stop-loss strategies amid ongoing market volatility.

Support Levels :-  23,250 -23,000

Resistance Levels :-  23,900- 24000

Overall Bias :- Sideways

Bank Nifty

The Bank Nifty index began the week on a weak note, opening at 53,282.15 amid negative market sentiment and broad-based selling pressure across the banking sector. During the initial part of the week, the index extended its decline and touched a weekly low of 52,783.45. However, strong buying interest emerged from lower levels, resulting in a sharp recovery in the index. Supported by renewed momentum, Bank Nifty rallied significantly and climbed to a weekly high of 54,213.05, indicating strength in select banking counters and improved market participation.

Despite the sharp rebound, the index witnessed some profit booking near higher levels and failed to sustain its intraday gains. It eventually settled at 54,055.35, registering a weekly gain of 345 points or 0.64%. Although the index ended the week in positive territory, the overall price structure still reflects cautious undertones and elevated volatility in the broader trend.

Technically, the index briefly traded below its 20-DEMA, 50-day EMA, and 200-DEMA on the daily chart, signalling weakness in short-term momentum. Immediate support is placed in the 53,000–52,780 zone, while resistance levels are seen at 54,800 and 55,000. The weekly RSI at 42.50 suggests cautious sentiment and weakening momentum in the near term.

Support: 53,000–52,780

Resistance: 54,800 -55,000

Overall Bias: - Sideways

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