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NIFTY WEEKLY OUTLOOK 15-11-2026

The Nifty index started the week on a mildly positive note at 25,070.45, opening around 84 points higher than the previous close. However, initial selling pressure dragged the index to a weekly low of 24,838.75 on the first trading day, from where strong buying interest emerged and supported a recovery throughout the week. The index subsequently moved higher and registered a weekly high of 25,424.35, where some profit booking emerged. Nifty eventually settled at 25,144.30, gaining 157.90 points (+0.63%) for the week, maintaining its position above the 25,000 mark. The weekly chart has formed a Doji-like candlestick, indicating some indecision and profit booking at higher levels after the previous week's sharp rally. Despite the volatility, Nifty managed to close above its previous weekly swing high and within the earlier gap zone, keeping the broader breakout structure intact. The index continues to trade comfortably above both the 50-Week EMA and 200-Week EMA, indicating a constructive medium-to-long-term technical structure. From a momentum perspective, the weekly RSI has advanced to 61.70, moving comfortably above the neutral 50 mark and its average near 44.49. This reflects strengthening underlying momentum and supports the prevailing positive technical outlook, although some consolidation cannot be ruled out following the recent sharp recovery. Sector-wise, market participation remained broadly positive, led by Nifty PSU Bank, which emerged as the top performer with a gain of 7.84%, marking its third consecutive positive weekly candle. Nifty Bank also witnessed strong buying interest, advancing 3.71% and trading close to its all-time high, just around 750 points away. Nifty Media and Realty also registered gains of more than 3%. On the other hand, Nifty IT witnessed profit booking and declined 2.86%, while Nifty Metal closed marginally lower by 0.59%. Among Nifty 50 constituents, SBI was the top gainer, advancing 6.30%, followed by HDFC Life with a gain of 5.38%. Notably, all Nifty 50 constituents ended the week in positive territory. Technically, Nifty continues to maintain a positive weekly structure after its recent breakout above the previous swing high and falling trendline resistance. The index is trading above the 50-Week EMA near 24,037 and 200-Week EMA around 22,451, highlighting sustained strength in the broader trend. Although the latest Doji-like formation indicates some hesitation at higher levels, holding above the breakout region would be important for maintaining the ongoing bullish momentum. On the upside, immediate resistance is placed at 25,350 and 25,800. A sustained breakout above this zone could open the door for further upside towards higher levels. On the downside, immediate support is seen in the 24,800–25,000 zone, which will remain crucial for sustaining the current bullish structure. A sustained hold above this support region could attract fresh buying interest, while a decisive breakdown may lead to further consolidation. Traders may maintain a positive bias while remaining watchful of intermittent profit booking at higher levels

Support Levels :- 24,800 - 25,000

Resistance Levels :- 25,450 - 25,800

Overall Bias :- Bullish

BANKNIFTY WEEKLY OUTLOOK

Bank Nifty opened the week on a mildly positive note at 59,240.50 and initially registered the weekly low of 58,877.85 on the first trading session. Strong buying interest emerged from lower levels, triggering a sharp upward move that pushed the index to a weekly high of 61,545.85. The index witnessed some profit booking towards the end of the week but managed to close at 61,034.10, gaining 2,183.45 points (+3.71%). The weekly price action reflects strong bullish momentum, with the index forming a strong bullish candlestick and decisively breaking above the falling weekly trendline resistance. Bank Nifty has also sustained its position comfortably above the 50-week EMA, placed around 56,490, while remaining well above the rising 200-week EMA near 50,945, indicating improvement in the broader technical structure. The Weekly RSI has surged to 65.37, moving above the neutral 50 mark and its average line, signalling strengthening bullish momentum. Sectorally, the Nifty PSU Bank Index outperformed with a strong gain of 7.84%, while the Nifty Private Bank Index advanced around 2% during the week. Among Bank Nifty constituents, Punjab National Bank (PNB) emerged as the top performer, gaining 13.75%, followed by Bank of Baroda, which advanced 10.02%. Notably, all banking constituents ended the week in positive territory, indicating broad-based buying participation across the banking space. Going ahead, Bank Nifty maintains a bullish bias following the decisive trendline breakout and strong weekly close. Sustaining above the 60,400–60,000 support zone would be important to maintain the positive momentum, while a sustained move above the recent high could open the way towards 61,650–62,000. Some intermittent profit booking cannot be ruled out after the sharp upward move.

Support: 60,400–60,000

Resistance: 61,650–62,000

Overall Bias: Bullish

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