The Benchmark Index (Nifty) remained volatile throughout the week, struggling to find a clear direction amidst global uncertainty. However, the domestic support story remains robust. While FIIs pulled out ₹251.86 Crores (Net Sellers), DIIs stepped in aggressively to absorb the supply, buying a massive ₹12,061.92 Crores (Net Buyers).
Amidst these choppy sessions and institutional battles, we saw resilience in PSU Banks (+1.33%) and IT (+1.09%), which acted as key pillars of support. On the flip side, weakness persisted in Media and Energy, dragging the broader momentum down.
| Sectoral Index | Weekly Change | Performance Note |
| 🏛️ NIFTY PSU BANK | +1.33% | Outperformer. Strong buying interest in public sector lenders; bullish momentum continues. |
| 💻 NIFTY IT | +1.09% | Strength. Defensive buying visible; sector looking resilient against volatility. |
| 🛒 NIFTY FMCG | +0.43% | Stable. Held ground as a defensive play; consolidated with a positive bias. |
| 🚗 NIFTY AUTO | -0.59% | Weak. Witnessed profit booking at higher levels; slight drag on the index. |
| ⚡ NIFTY ENERGY | -0.69% | Correction. Faced selling pressure; failed to sustain higher levels. |
| 📺 NIFTY MEDIA | -1.10% | Top Loser. Underperformed the broader market; structure remains weak. |
NIFTY
25,966 (-0.31%)
The Benchmark Index, Nifty 50 had a rollercoaster week, swinging back and forth without any clear direction. At the moment, it’s stuck just under the 26,000 mark, hanging out right along the falling trendline between 25,950 and 26,000. Bulls aren’t giving up—they’re doing everything to keep the index from dropping. But every push higher hits a wall at that trendline. It’s a classic battle: buyers holding their ground, sellers blocking every move. No one’s budging, and the tension’s not letting up.
Technical Indicators: The index bounced right off its 50-day Exponential Moving Average, showing that this level is still acting as strong support. At the same time, the daily Relative Strength Index (RSI 14) has cooled off to a neutral 52.07. So, it’s no longer overbought, which gives the market room to push higher if it can break through resistance.
Key Price Levels:
Critical Resistance Zone: There’s a lot of selling pressure clustered at the falling trendline near 26,100. The index needs to break above this level—and actually stay there—to open the door to more gains and a shot at new all-time highs.
Key Support Levels: If things pull back, there’s immediate support at 25,850 (S1), and a stronger base waits at 25,700 (S2).
With the EMA support holding firm and the RSI reset, the configuration clearly favors “Buy on Dips.” The upward trend continues strictly above 26,100. However, losing 25,700 would undermine the upswing and likely invite fresh selling pressure.
BANK NIFTY
59,069 (-0.54%)
The Banking Index took a break this week, trading in a choppy, sideways range slightly above 59,000 points. Zooming in on the 125-minute timescale, the index is plainly forming a descending triangle pattern right at all-time highs. The market appears to be coiling up; bulls are easily defending the lower support lines, but they have yet to break past the key 60,000 barrier.
Technical Indicators:
The index’s small decline below its short-term 20-day EMA suggests either a stop in momentum or some quick weakening. Crucially, though, the daily RSI is showing a hidden bullish divergence. This is an important indication because it implies that even though the price has fallen below the average, the underlying strength is still present, and this decline may be a “bear trap” leading up to the next leg up.
Key Price Levels:
Crucial Resistance Zone: Important Price Levels The 59,800–60,000 zone is the major obstacle. The psychological ceiling is this. To start the next phase of the rally and move into uncharted territory, we need a solid, decisive close over 60,000.
Important Support Levels: Buyers have lately intervened at 58,600 (S1), which is the immediate support level. A more robust structural base is located close to 58,000 (S2) below that.
The trend is still bullish, but the momentum has paused. The current setup favors a “Buy on Dips” strategy as long as 58,500 holds. A breakout above 60,000 will likely unleash fresh buying momentum. However, if we slip below 58,500, the index could slide into a deeper correction.
NIFTY MIDCAP 150
22,146 (-0.03%)
The Midcap 150 Index is grinding higher, currently sitting just shy of its record peak at 22,509. It’s not making explosive moves right now; instead, it’s a steady, calculated climb. The daily chart shows buyers stepping in faithfully on every dip, keeping the structure positive. However, looking at the weekly picture, the rally feels a bit “tired” as it struggles to smash through that final ceiling.
Technical Indicators: The index is showing signs of imminent strength as it is easily holding above its short-term 20 EMA on the daily chart. However, a danger signal is flashing on the Weekly chart. The weekly RSI shows a clear bearish divergence, with momentum moving lower while prices are close to highs. This paradox implies that even while the trend is up, the engine is losing some power, therefore we shouldn’t chase breakouts mindlessly.
Key Price Levels:
Critical Resistance Zone: At 22,510, the “line in the sand” represents the All-Time High. For the bearish divergence to be eliminated and blue-sky territory to be opened, a solid weekly closing above this level is required.
Key Support Levels: The immediate support level is close to 21,900 (20-day EMA). The main structural safety net is at 21,700 below that.
The primary trend remains bullish, so “Buy on Dips” is still the game plan, but caution is key due to the weekly divergence. A breakout above 22,510 would reignite the momentum. However, if the index slips below 21,600, the weekly weakness could take over, triggering a deeper profit-booking slide.
