Market Summary
NIFTY
Following a notable uptrend over the past two weeks, the benchmark index NIFTY slipped a little over half a percent last week, ending at the 25,461 mark. With momentum appearing to fade near all-time high levels, the index has formed a Bearish Belt Hold pattern on the weekly time frame — a sign of potential near-term weakness. The index continues to trade above all major moving averages and is currently holding above its 20 Daily EMA on the daily time frame, indicating underlying strength despite recent pullbacks.
Key levels to watch in the coming week are 25,200 and 25,000 on the downside, while resistance is expected near 25,700 and 25,900 on the upside.
BANK NIFTY
After advancing 3.45% over the past two weeks, BANKNIFTY edged lower by 0.72% last week, suggesting some profit-booking or short-term consolidation. Upside momentum appears to have paused, with a small Doji candlestick forming near all-time high levels — signaling indecision and a tight battle between buyers and sellers. The index continues to trade above key moving averages, with the 20 Daily EMA providing immediate support for the banking index.
Key levels to watch in the upcoming week are 56,500 and 56,200 on the downside, while resistance is likely around 57,200 and 57,600 on the upside.
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Disclaimer: I am not a SEBI-registered advisor. The stock recommendations and analysis shared are purely for educational and informational purposes only. They should not be considered as investment advice. Please consult a SEBI-registered financial advisor before making any investment decisions. Investing in the stock market involves risk. Do your own research (DYOR).
