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NIFTY WEEKLY OUTLOOK

The Nifty index experienced sharp intraday swings throughout the week, reflecting heightened uncertainty and a tug-of-war between bulls and bears. It registered a weekly high of 25,885 and a low of 25,372.7, before closing at 25,571, marking a marginal weekly gain of around 100 points. This weekly close suggests a phase of consolidation with a neutral-to-cautious bias rather than a clear directional trend.

On the weekly chart, despite the formation of a green candle, the presence of a long upper wick highlights selling pressure and profit booking at higher levels, indicating supply dominance near the top zones.On the daily timeframe, the index managed to close above the critical 25,600 mark, confirming a breakout from an important resistance zone and signaling an improvement in the overall market structure.

From a levels perspective, 25,800 stands as the immediate resistance, followed by 26,000 and 26,200. On the downside, key supports are located at 25,300 and 25,100. A decisive break below 25,000 could increase downside momentum and accelerate corrective pressure.Given the prevailing volatility, traders are advised to adopt a cautious, risk-managed approach, with strict stop-loss discipline to navigate potential sharp swings.

Support Levels:- 25300-25000

Resistance Levels :- 25800-26200

Overall Bias :-Sideways  

BANKNIFTY WEEKLY OUTLOOK 

Bank Nifty concluded the week on a positive note, settling at 61,172, marking a weekly advance of 985.35 points amid elevated volatility. The index displayed strong price action by convincingly surpassing the crucial resistance level at 60,500 and forming a bullish engulfing pattern on the weekly chart, which signals a potential trend reversal and strengthening bullish sentiment.

However, should selling pressure return and the index fail to maintain levels above 60,000, a decisive breakdown could open the door for a deeper corrective phase, with downside targets in the 60,300–60,500 zone and the possibility of further extension lower.On the upside, 61,500 remains the immediate resistance hurdle, followed by 61,700 and 61,800 as subsequent supply zones.

From a momentum perspective, the weekly RSI at 66.09 reflects strong bullish momentum while approaching overbought territory, supporting a cautiously positive bias. Despite this, Bank Nifty continues to trade below its 20-day, 50-day, and 200-day EMAs, indicating persistent overhead supply and confirming that the broader trend structure has not yet shifted into a clearly bullish phase.

A sustained close above 61,500 would reinforce bullish strength and potentially trigger further upside continuation. Conversely, inability to hold above this level may lead to short-term corrective weakness. Traders are advised to stay constructive but disciplined, with 60,300 as a critical support level and 61,500 as the key resistance zone to gauge the next directional move.

Support: 60300-60500

Resistance: 61500-61800

Overall Bias :- Sideways

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