Buy or sell: The ended the week on a negative note, slipping 0.28% to close at 25,722. Despite the index showing signs of weakness, sectoral buying was witnessed in oil & gas, banking, metals, realty, and chemicals, indicating broad-based market strength.
On the technical front, managed to sustain above the key trendline support zone of 25,500–25,600 and moved closer to 26,300, thereby testing the crucial resistance area of 26,000–26,300, which aligns with previous highs. Going forward, sustaining above 25,600 will be critical for a potential move toward 26,300–26,600, while immediate support is placed at 25,000–25,100.
Weekly market outlook
Nifty 50
For the upcoming week, is expected to trade within a range of 25,500–26,300, with a decisive move above 26,000 likely to trigger the next leg higher toward 26,300. Derivatives data also supports this outlook, with the highest Call open interest observed at the 26,500 and 26,000 strike prices, indicating resistance zones, while the highest Put open interest at 25,500 and 25,700 levels suggests strong support for the index.
Bank Nifty
Meanwhile, the Bank Nifty closed the week marginally higher by 0.13%, with broader support seen around 57,000–57,500 and resistance at 58,000–58,500. Overall, the market sentiment remains cautiously optimistic. However, a decisive breakout above 26,600 on the Nifty and 58,500 on the Bank Nifty will be essential to confirm the continuation of the upward momentum. Traders are advised to maintain a disciplined “buy-on-dips” approach in selective stocks while closely monitoring global and geopolitical developments for further directional clarity.
Weekly stocks to buy or sell
Oberoi Realty: Buy at ₹1778-1790; Stop Loss at ₹1740; Target Price of ₹1850.
Fortis Healthcare: Buy at ₹1020-1030; Stop Loss at ₹980; Target Price of ₹1090.
Ambuja Cements: Buy at ₹566-570; Stop Loss at ₹555; Target Price of ₹595.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decision.