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NIFTY WEEKLY OUTLOOK

The Nifty index witnessed strong bearish momentum during the week, declining sharply after a negative start and registering a weekly low of 25,623, erasing nearly 645 points. On the weekly chart, the formation of a bearish engulfing candle has completely wiped out the previous week’s gains, indicating a potential short-term trend reversal and heightened selling pressure. The presence of five consecutive red candles further highlights sustained distribution and weakening sentiment at higher levels.

On the daily timeframe, Nifty closed decisively below the crucial 25,800 resistance level, reflecting a breakdown of an important supply zone and short-term bearish dominance. However, the index continues to trade above its 20-day, 50-day, and 200-day EMAs, indicating that the broader medium- to long-term trend remains intact. As long as these levels are held, the overall market bias is expected to remain constructive.

Immediate resistance lies at 25,800, followed by 25,940 and 26,000, while support is placed at 25,600 and 25,450. A breakdown below 25,300 may intensify downside pressure. A cautious approach remains suitable, with strict stop-loss discipline amid ongoing volatility.

Support Levels:- 25600-25300

Resistance Levels :- 25800-26000

Overall Bias :-Sideways  

BANKNIFTY WEEKLY OUTLOOK 

Bank Nifty began the week by registering a high of 59,251. After marking an all-time high of 60,437, the index witnessed profit booking for three consecutive sessions, reflecting short-term exhaustion at elevated levels and cautious sentiment among market participants. If selling pressure re-emerges and the index decisively breaks below 59,000, it could trigger a deeper corrective move toward the 58,700–58,600 zone, with scope for further downside if weakness persists. On the upside, immediate resistance is placed at 59,500, followed by 59,850 and the psychological 60,000 mark.

The weekly RSI stands at 47.96 and is trending higher, signalling gradually improving momentum and underlying bullish undertones. Additionally, the index continues to trade comfortably above its 20-day, 50-day, and 200-day EMAs, reinforcing a structurally positive setup and supporting the continuation of the broader uptrend.

A convincing close above 59,500 would strengthen bullish momentum, while failure to sustain above this level may result in short-term consolidation or mild weakness. Traders are advised to remain constructive yet disciplined, closely monitoring 58,800 as a key support and 59,500 as the crucial resistance for near-term directional cues.

Support: 59000-58700

Resistance: 59500-60000

Bias :- Sideways

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