Buy or sell: The ended the week on a strong note, gaining 0.33% to close at 25,795, supported by positive global cues and optimism surrounding U.S. President Donald Trump’s weeklong tour of Asia — his first trip to the region during his second term — which includes visits to Malaysia, Japan, and South Korea, culminating in a meeting with China’s top leader, Xi Jinping. Broader markets also witnessed healthy participation, with several key indices advancing between 1–3%. Among sectors, Telecom led the rally with an impressive 5.5% gain, while Banking, Technology, and Metal sectors also posted notable advances, reflecting broad-based strength across the board.
Weekly market outlook
Nifty 50
On the technical front, Last week broke above the key 25,600 resistance level for the first time in a long period and sustained comfortably above this crucial psychological mark on a weekly basis. The index also registered a higher high closing on the weekly chart, indicating continued bullish momentum in the near term. Although Nifty briefly surpassed the psychological 26,000 level, some profit booking was observed at higher levels. The index had earlier established a strong base near the 24,300–24,400 zone, coinciding with the 200-day EMA, which now acts as a solid support area. Throughout the week, Nifty consistently traded above 25,500–25,600, tested resistance near 26,000–26,600, and eventually settled at 25,795. Fresh support is now placed at 25,500–25,600, while resistance levels are seen at 26,000 and 26,500. For the upcoming week, Nifty is expected to trade within a range of 25,700–26,500, with a decisive move above 26,000 likely to trigger the next leg higher toward 26,500.
Derivatives data also supports this view, with the highest Call open interest at the 26,500 strike, followed by the 26,000 level, indicating potential resistance zones. On the Put side, the highest open interest is concentrated at the 25,500 and 25,700 strikes, suggesting strong support levels for the index.
Bank Nifty
The continued its bullish momentum, closing above the 58,000 mark and hitting a fresh 52-week high. The index continues to find strong support in the 56,500–57,000 zone, while resistance is placed at 58,500–59,000 levels. Both PSU and private banks contributed positively to the uptrend, reflecting broad-based strength across the banking sector.
Overall, market sentiment remains upbeat, with sustained momentum likely as long as Nifty holds above 25,600 and Bank Nifty maintains strength above 57,000. Traders are advised to follow a disciplined “buy-on-dips” strategy in selective stocks while keeping a close watch on global developments and geopolitical cues for further directional clarity.
Weekly stocks to buy or sell
JSW Steel Ltd: Buy at ₹1135-1140; Stop Loss at ₹1115; Target Price of ₹1180.
Indus Towers Ltd: Buy at ₹360-362; Stop Loss at ₹350; Target Price of ₹390.
UPL: Buy at ₹673-675; Stop Loss at ₹655; Target Price of ₹700.
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.