Buy or sell: The ended the week on a positive note, gaining 0.49% to close at 26,077. However, despite the index finishing higher, sectoral performance on a weekly basis remained subdued, with only the Auto index managing to end in the green. From a technical standpoint, Nifty closed above the crucial 26,000 support zone after consistently trading above the 25,700–25,800 resistance band throughout the week.
Weekly market outlook
Nifty 50
Fresh support is now placed at 25,700–25,600, while resistance lies in the 26,300–26,500 range. Derivatives data also reinforces this outlook, with the highest Call open interest at the 26,500 and 26,300 strikes highlighting key resistance levels, whereas the highest Put open interest at the 25,800 and 26,000 strikes underscores strong support zones. Structurally, Nifty continues to form a higher-top, higher-bottom pattern, indicating sustained bullishness, and any dips toward the 25,500–25,800 region may offer stock-specific opportunities.
Bank Nifty
also maintained its upward momentum, rising 0.38% for the week, supported by strong contributions from both PSU and private sector banks. The index continues to hold firm above the 56,500–57,000 support cluster, with major resistance positioned at the 59,500–60,000 zone.
Overall market sentiment remains positive, and the broader uptrend is likely to remain intact as long as Nifty sustains above 25,600 and Bank Nifty stays above 57,000. Key resistance for Nifty is seen at 26,300–26,500 with support at 25,500, while Bank Nifty faces resistance at 60,000 and holds support near 57,000. Traders are advised to adopt a disciplined buy-on-dips approach in selective stocks while monitoring global developments and geopolitical cues for further directional clarity.
Weekly stocks to buy or sell
Indian Energy Exchange: Buy at ₹138-140; Stop Loss at ₹132; Target Price of ₹152.
Piramal Pharma Ltd: Buy at ₹188-190; Stop Loss at ₹185; Target Price of ₹200.
Bajaj Finance: Buy at ₹1005-1015; Stop Loss at ₹980; Target Price of ₹1060.
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.