Buy or sell: The ended the week on a steady note, slipping marginally by half a percent to close at 26,186. Sectoral strength in telecom, technology, automobile and metal sectors—each gaining between 0.50% and 3%—helped the index remain firmly above the 26,000 mark. As anticipated, Nifty continued to extend its bullish trajectory, further supported by the RBI’s 0.25 bps rate cut to 5.25%, which pushed the index closer to its next resistance zone at 26,500.
Weekly market outlook
Nifty 50
Technically, the has closed comfortably above the crucial 26,000 support level after consistently trading above the earlier hurdle of 25,700–25,800. Fresh support is now seen at 25,700–25,600, while resistance lies between 26,300 and 26,500. Derivatives data reinforces this setup, with the highest Call open interest at 26,400–26,500 marking stiff resistance, while significant Put open interest at 26,100–26,000 highlights strong support. The higher-top, higher-bottom formation continues to reflect robust bullish momentum, and any decline toward 25,800–26,000 may present favourable stock-specific buying opportunities.
Bank Nifty
also extended its positive momentum for the week, supported by solid recoveries in both PSU and private banking stocks. The index remains comfortably positioned above the 57,500–58,000 support band, with major resistance seen at 60,000–60,500. As long as Nifty sustains above 25,600 and Bank Nifty holds above 58,000, the broader market trend is expected to remain constructive.
Conclusion
key resistance persists at 26,300–26,500 with support near 25,500, while Bank Nifty faces an upper barrier around 61,000 and maintains support near 58,000. Traders are encouraged to adopt a disciplined buy-on-dips approach in selective stocks while closely monitoring global cues and geopolitical developments for clearer directional clarity.
Weekly stocks to buy or sell
State Bank of India: Buy at ₹960-970; Target Price of ₹1020; Stop Loss at ₹940.
Infosys: Buy at ₹1600-1620; Target Price of ₹1680; Stop Loss at ₹1560.
Union Bank of India: Buy at ₹151-154; Target Price of ₹165; Stop Loss at ₹147.
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.