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NIFTY WEEKLY OUTLOOK 25-09-2026

The Nifty index started the week on a largely flat note at 23,330.20 and initially witnessed buying interest, pushing the index to a weekly high of 23,489. However, the recovery failed to sustain, and the index subsequently faced sharp selling pressure, including a gap-down opening that resulted in a break below the major June 2026 low around 23,070. Nifty touched a weekly low of 23,020.95, but buying interest emerged near the psychological 23,000 mark, helping the index recover marginally and settle at 23,140.50, down 205.90 points (-0.88%) for the week.

The weekly price action reflects continued weakness, with Nifty facing resistance at higher levels and subsequently breaking below the recent consolidation support and rising trendline. Although the index breached the June 2026 low of around 23,070, it managed to hold the 23,000 psychological support on a closing basis. The index continues to trade below the 50-Week EMA, while the 200-Week EMA near 22,380 remains the key long-term support zone.

From a momentum perspective, the weekly RSI stands at around 37.40, remaining below the neutral 50 mark and indicating weak underlying momentum. The RSI is also below its average of around 47.49, highlighting continued pressure; however, it is yet to enter the oversold zone.

Sector-wise, the performance remained mixed, with Realty, Pharma, FMCG and Metal managing to remain positive during the week and providing some relative resilience. On the other hand, Nifty IT, Auto and Banking remained weak and closed the week in negative territory, contributing to the broader pressure on the benchmark index.

Technically, Nifty is witnessing a gradual deterioration in its weekly structure, with the recent breakdown below the 23,070 support zone weakening the near-term setup. The index is currently trading well below the 50-Week EMA around 24,216, while the 200-Week EMA near 22,380 remains an important long-term support. A sustained recovery above the immediate resistance band would be required to stabilize the structure and bring back stronger buying interest.

On the upside, immediate resistance is placed at 23,400 and 23,600. A sustained move above this zone could provide some relief and help the index regain stability. On the downside, support is seen at 23,000 and 22,800. A decisive breakdown below 22,800–23,000 could further weaken the structure and open room for additional downside. Considering the prevailing technical setup, traders are advised to remain selective and maintain a cautious, stock-specific approach until the index establishes a clear directional move.

Support Levels :- 22,800 - 23,000

Resistance Levels :- 23,400 - 23,600

Overall Bias :- Sideways to Bearish

BANKNIFTY WEEKLY OUTLOOK 25-09-2026

Bank Nifty opened the week almost flat at 56,361.90 and initially witnessed buying interest, moving up to register the weekly high of 56,671.10. However, the index faced selling pressure from higher levels and remained under pressure through the week, with a sharp gap-down opening on Thursday dragging it to a weekly low of 55,341.20. Bank Nifty eventually closed at 55,580.40, down by 778.30 points (-1.38%).

The weekly price action remained weak, with the index facing repeated selling pressure after the initial recovery attempt and forming a series of bearish weekly candlesticks. Bank Nifty faced rejection from the 50-week EMA on the higher side, indicating continued supply around this key resistance zone. Among constituents, Union Bank remained relatively stable with around 2% gains, while IndusInd Bank was the major laggard, declining around 5.5% during the week.

Going ahead, the index is likely to remain in a sideways to bearish phase unless it manages to reclaim the immediate resistance zone. Holding the 54,800–55,000 support area would be important to prevent further deterioration, while a sustained move above 56,400–57,000 would be required to bring strength back into the near-term setup.

Support: 54,700–55,000

Resistance: 56,400–57,000

Overall Bias: Sideways to Bearish

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