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NIFTY WEEKLY OUTLOOK

The Nifty index started the week with a modest gap-up of around 47 points. During the week, it largely moved in a sideways range, recording a high of 24,334.7 and a low of 23,796.85, indicating a phase of consolidation. For most of the period, the index struggled to sustain above the 20-day EMA, but it eventually managed to close above it. It also settled above the 100-week EMA at 23,997.55, gaining nearly 99.60 points (0.42%), which reflects underlying strength and hints at a potential shift toward a positive trend.

Overall, the price action suggests consolidation with a mildly bullish bias. On the upside, resistance levels are placed at 24,350 and 24,600. On the downside, support is seen at 23,900 and 23,550. A breakdown below 23,500 could result in increased selling pressure. Given the current market structure, traders are advised to remain disciplined and adhere to strict stop-loss strategies amid ongoing volatility.

Top of Form

Bottom of Form

Support Levels :-  23,900-23,550

Resistance Levels :-  24,350 – 24,600

Overall Bias :- Sideway

BANKNIFTY WEEKLY OUTLOOK 

The Bank Nifty index opened the session on a flat note at 56,162.60, reflecting initial indecision among market participants. It moved higher to register a weekly high of 56,474.95 but failed to sustain at elevated levels, leading to a subsequent correction. The index then declined to a weekly low of 54,440.25 before closing at 54,863.55, marking a loss of 1,226.4 points (-2.19%). This price action indicates selling pressure at higher levels along with a lack of sustained buying interest.

It is also notable that the index briefly slipped below its 20-week and 50-week exponential moving averages (EMA), as well as the 50-day EMA, signalling short-term weakness and a potential shift in near-term trend sentiment. In the near term, immediate downside support is placed in the 54,350–53,850 zone in case selling pressure re-emerges. On the upside, 55,550 acts as immediate resistance, while 56,200 stands as the next key supply zone.

From a momentum standpoint, the weekly RSI at 45.54 indicates weakening momentum and a bearish undertone. However, failure to reclaim higher levels may keep the index under short-term corrective pressure. Traders are advised to remain cautious and follow disciplined risk management while closely tracking key levels for the next directional move.

Support: 54,350–53,850

Resistance : 55,550 -56,200

Overall Bias :- Sideways

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