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NIFTY WEEKLY OUTLOOK

The Nifty index witnessed significant volatility during the week, driven by major macro events including the Union Budget 2026, the US–India trade developments, and the Reserve Bank of India’s Monetary Policy Committee (MPC) meeting. The index recorded a weekly high of 26,341 and a low of 24,679 before settling at 25,693.70, registering a strong gain of 868 points. The weekly close reflects heightened volatility in the early part of the week, followed by largely sideways movement, indicating a phase of market consolidation.

On the weekly chart, Nifty formed a strong bullish candlestick and closed decisively above the 20-week EMA, reflecting a positive shift in medium-term trend structure and strengthening bullish sentiment.On the daily timeframe, the index closed firmly above the crucial 25,650 level, confirming a breakout from a key resistance zone and signaling an improvement in overall market structure.

Immediate resistance is placed at 25,800, followed by 26,000 and 26,200 levels. On the downside, support is seen at 25,500 and 25,200. A breakdown below 25,100 could intensify downside pressure and accelerate corrective moves. Given the prevailing volatility, a cautious approach with strict stop-loss discipline is advised.

Support Levels:-25800-26200

Resistance Levels :-25500-25100

Overall Bias :-Sideways to Bullish

BANKNIFTY WEEKLY OUTLOOK 

Bank Nifty ended the week on a strong note despite heightened volatility driven by major macro events, including the Union Budget 2026, US–India trade developments, and the RBI’s MPC meeting. The index formed a new all-time high of 61,764.85 in early trades before witnessing profit booking, eventually closing at 60,120.55. This resulted in a weekly gain of 1,703.55 points (2.92%), reflecting strong bullish participation and market resilience.

Technically, the index displayed strength by sustaining above the key psychological resistance of 60,000, indicating improving market confidence and structural support formation. However, a failure to hold above 59,800 could trigger a corrective move toward the 59,600–59,400zone, with the risk of further downside extension if selling pressure intensifies.

On the upside, immediate resistance is placed at 60,500, followed by 61,000 and 61,400. The weekly RSI at 55.99 suggests moderate bullish momentum with scope for further upside without overbought conditions. Nevertheless, Bank Nifty continues to trade below its 20-day, 50-day, and 200-day EMAs, indicating overhead supply and a broader trend that has not yet turned decisively bullish.

A sustained close above 60,500 would reaffirm bullish momentum, while failure to hold this level may invite short-term weakness. Traders should remain constructive yet disciplined, closely monitoring 59,800 as key support and 60,500 as critical resistance for directional cues.

Support: 59800-59400

Resistance: 60500-61400

Overall Bias :- Sideways to Bullish

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