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2025-07-29 12:35:49 pm | Source: Choice Broking Ltd
Nifty & Bank Nifty Weekly Outlook 28th July 2025 by Choice Broking Ltd
Nifty & Bank Nifty Weekly Outlook 28th July 2025 by Choice Broking Ltd

Nifty Weekly Outlook

 

Nifty extended its decline on Friday, slipping below the immediate support at 24,900 to settle at 24,837, pressured by weak global cues and disappointing earnings results. The market showed sustained selling pressure throughout the session, resulting in a cautious and corrective price action. Technically, Nifty is trading below its 20- and 50-day EMAs, indicating a bearish short-term trend. The next immediate support to watch is at 24,750, and if this level breaks, further correction may push the index down toward 24,580, near the 100-day EMA—an important technical support zone.

Momentum indicators also advise caution. The RSI is trending lower at 40.64, reflecting weakening buying strength, while the stochastic RSI shows a negative crossover, signaling the likelihood of continued selling pressure in the near term. Sectorally, the downtrend was widespread, with energy, metal, and auto sectors leading losses. Midcap and smallcap indices also fell sharply, amplifying negative market sentiment.

On the upside, a decisive close above the 25,150 level would be needed to shift momentum positively, potentially opening targets near 25,500 and 25,700 in the coming week. Until then, the market outlook remains sideways to bearish, and a cautious stance with close monitoring of global and domestic triggers is advisable to navigate the prevailing volatility effectively.

Support Levels: 24750 - 24600

Resistance Levels: 25000-25600

Overall Bias: Sideways to Bearish

 

BANKNIFTY

 

Bank Nifty ended lower on Friday, closing near 57,010 after facing resistance and rejection in the 57,200–57,300 zone, indicating ongoing consolidation with mixed momentum. The index is currently range-bound, with immediate resistance around 57,000; a sustained breakout above this level could trigger fresh buying, targeting resistance at 57,630. Breaking beyond 57,630 may fuel stronger bullish momentum toward higher targets of 58,000 and 58,500. Conversely, on the downside, a break below the critical support level of 56,275 could lead to a deeper corrective move toward 55,550 and 55,150.

Momentum indicators offer a mixed outlook. The MACD and stochastic oscillator suggest bullishness, while the RSI remains neutral at approximately 54.7, not signaling a strong directional bias. The Average True Range (ATR) points to high volatility, implying the potential for sharp price swings ahead. These conflicting signals suggest traders should be cautious, closely monitoring key pivot levels for signs of a breakout or breakdown.

Given the current range-bound price action and uncertain momentum, a cautious approach with sound risk management is advisable for the coming week. Watching for a decisive close above 57,000 resistance or a break below 56,275 support will be critical to identifying the next meaningful directional move in Bank Nifty.

Support: 55275-55500

Resistance: 57000-57600

Bias- Sideways to Bearish

 

 

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