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Below the Quote on Weekly Market Wrap 27th June 2025 by Amol Athawale, VP-Technical Research, Kotak Securities

In the last week, the benchmark indices witnessed a promising uptrend rally. The Nifty ends 2 percent higher, while the Sensex gained 1650 points. Among sectors, Capital Market and Metal Indices outperformed, both gaining over 5 percent. Despite strong market sentiment, profit booking was observed in the Reality and Defense indices, with Reality down 1.80 percent and Defense shed nearly 1 percent. During the week, the market successfully cleared the crucial resistance zone of 25,300/82700, and post-breakout, it intensified its positive momentum. Technically, on weekly charts, it has formed a long bullish candle, which is largely positive. Additionally, it is maintaining an uptrend continuation pattern on daily and intraday charts and is currently trading comfortably above short-term averages, which is also positive. For trend-following traders, 25,500–25,300/83300-82700 would act as crucial retracement support zones. As long as the market remains above these levels, the uptrend is likely to continue on the higher side, with 25,850/84400 serving as the immediate resistance level for the bulls. Further upside could potentially lift the market up to 26,000/84800.

In the short term, the market texture appears bullish, but buying on dips and selling on rallies would be the ideal strategy. However, if the market falls below 25,300/82700, the uptrend could become vulnerable.

For Bank Nifty, a breakout formation on daily and weekly charts supports further uptrend from the current levels. In the short run, 57,000–56,700–56,500 would be key support zones, while 57,500–57,800–58,200 could serve as crucial resistance levels for traders.