Weekly Technical Outlook 14th July 2025 by Axis Securities Ltd
Nifty 50 Index
• Nifty began the week on a flat note but faced sustained selling pressure, eventually closing near the week’s low at 25,150, marking a weekly loss of 311 points.
• On the weekly chart, the index formed a long bearish candle with a lower highlow formation, reflecting prevailing weakness.
• Notably, Nifty closed below the 20-day SMA (25,265) and breached the key support level of 25,200, raising the risk of further downside toward 24,750– 24,500. A decisive close above the 20- day SMA, however, could shift sentiment and open up higher levels.
• Technical chart patterns suggest a sustained move above 25,300 may trigger fresh buying, driving the index toward 25,500–25,800. A break below 25,000 could accelerate selling pressure, dragging it toward 24,750– 24,500.
• We expect Nifty to trade within a broad range of 25,800–24,500 with a negative bias.
• The weekly RSI and Stochastic have both turned bearish and are trading below their respective signal lines, reinforcing the weak undertone.
Bank Nifty Index
• Bank Nifty began the week on a flat note and remained rangebound between 57,091 and 56,645, signalling indecision and lack of directional momentum. The index closed the week at 56,755, down 277 points for the week.
• On the weekly chart, a bearish candle with a long upper shadow has formed, highlighting selling pressure at higher levels.
• Despite its relative outperformance over Nifty, Bank Nifty is now at a critical support zone, hovering near its 20-day SMA (56,692). A decisive breakdown below this level could trigger profit booking, pushing the index lower.
• The chart pattern suggests that a sustained move above 57,000 may attract buying interest, taking the index toward 57,350–57,700. A break below 56,300 could intensify selling pressure, dragging it toward 56,000–55,500.
• For the coming week, we expect Bank Nifty to trade within a range of 57,700– 55,500, with a mixed to negative bias.
• The weekly RSI remains in negative territory and below its signal line, reinforcing a cautious undertone and suggesting waning momentum
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