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Nifty

The Nifty index displayed notable volatility last week, marking a high of 26,178 before profit-booking triggered three consecutive sessions of decline, taking the index to a low of 25,693. Following this correction, the last two sessions saw a steady recovery from lower levels, with Nifty closing at 26,046.95, indicating renewed buying interest and resilience near support zones. The index continues to trade above key moving averages—the 20-day, 50-day, and 200-day EMAs—reinforcing the broader bullish undertone.

 As long as it sustains above these levels, market sentiment is expected to remain constructive and upward-biased. On the upside, immediate resistance is placed at 26,200, followed by 26,400 and 26,500. On the downside, support is seen at 25,900 and then 25,800, with a break below 25,700 likely to attract additional selling pressure. Given the current market structure, a buy-on-dips strategy remains appropriate, though traders should maintain strict stop-losses due to prevailing volatility.

Support Levels:- 25900-25700

Resistance Levels :- 26200-26500

Overall Bias :- Sideways To Bullish

Bank Nifty

Bank Nifty began the week by recording a high of 59,713, after which profit booking set in and dragged the index to a low of 58,799. Toward the end of the week, the index staged a strong recovery and closed at 59,389.95, indicating renewed buying interest and strength near key support levels.

 If selling pressure re-emerges and the index decisively breaks below 58,800, it may trigger a deeper correction toward 58,700–58,600 and potentially further downside. On the upside, immediate resistance is placed at 59,500, followed by 59,850 and 60,000. The weekly RSI, currently at 58.21 and trending higher, signals strengthening momentum and continued bullish undertones. The index remains comfortably above its 20-day, 50-day, and 200-day EMAs, reinforcing a structurally positive setup that supports the continuation of the broader uptrend.

A convincing close above 59,500 would strengthen bullish momentum and open the door to additional upside, while an inability to sustain above this level could lead to short-term consolidation or mild weakness. Traders are advised to stay constructive but disciplined, closely monitoring 58,800 as a critical support zone and 59,500 as the key resistance level for near-term directional cues.

Support: 58800-58700

Resistance: 59500-60000

Bias :- Sideways to bullish

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