Buy or sell: The Indian equity markets witnessed notable profit booking this week, with the Nifty 50 closing at 24,426, down 1.32% on a weekly basis. The index broke decisively below the 24,800–25,000 consolidation zone, pressured by the new 25% tariff implementation, rupee weakness, and broader global concerns. Friday’s sharp sell-off highlighted growing caution, reinforcing the short-term bearish sentiment.
Weekly market outlook
Nifty 50
From a technical perspective, the 24,800–25,000 range has now turned into a key resistance area, while support lies at 24,200 and 24,000. A sustained move above 25,200 would be critical for the resumption of bullish momentum, whereas a failure to hold above 24,200 could invite further downside pressure.
Bank Nifty
The Bank Nifty also ended the week lower at 53,655, extending its weakness. The index faces immediate resistance at 55,500–56,000, with a breakout above this zone needed to trigger a fresh uptrend. On the downside, 53,000 remains a crucial support level, with further support at 52,500.
Conclusion
Both Nifty and Bank Nifty closed below their respective monthly support levels, signaling that short-term bearishness may persist. For the coming week, traders should remain cautious, closely tracking global cues and geopolitical developments, while watching 25,200 on Nifty and 56,000 on Bank Nifty as key levels to confirm any upward reversal.
Weekly stocks to buy or sell
1. ITC (ITC Ltd.): Buy at ₹400-410; Stop Loss at ₹380; Target Price of ₹440.
2. Punjab National Bank (PNB): Buy at ₹98-102; Stop Loss at ₹94; Target Price of ₹110.
3. Marico (Marico Ltd.): Buy at ₹725-730; Stop Loss at ₹685; Target Price of ₹765.
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.
