Buy or sell: The Nifty 50 ended the week on a weak note, declining by 0.89% to close at 25,492, dragged down by negative global cues and concerns surrounding a potential U.S. government shutdown. Despite the weakness in the benchmark index, select sectors managed to register healthy gains ranging between 2% and 5%. The telecom sector led the rally with an impressive 5% gain, while banking, chemical, and financial sectors also posted notable advances, reflecting broad-based buying interest across key segments.
Weekly market outlook
Nifty 50
On the technical front, Nifty closed the week below the crucial support zone of 25,500–25,600. Throughout the week, it traded above 25,500–25,600, tested resistance near 25,700–25,800, and finally settled at 25,492. Fresh support is now seen at 25,200–25,300, while resistance is placed in the 25,700–25,800 zone. Derivatives data further supports this view, with the highest Call open interest at the 26,000 strike, followed by 25,700, indicating potential resistance levels. On the Put side, the highest open interest is concentrated at the 25,200 and 25,000 strikes, suggesting strong support for the index at these levels. Currently nifty continuously seen oversold zone a further dip toward 25200 -25300 might see afresh way of opportunity on stock specific level.
Bank Nifty
The Bank Nifty continued its bullish momentum, gaining 0.17% during the week. The index continues to find strong support around the 56,500–57,000 zone, while resistance is seen at 58,500–59,000. Both PSU and private banks contributed positively to the uptrend, reflecting sustained strength across the banking sector.
Conclusion
Overall, the market sentiment remains sideways, with a sustainable uptrend likely if Nifty manages to hold 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
Eternal: Buy at ₹306-309; Stop Loss at ₹297; Target Price of ₹330.
Cholamandalam Investment and Fin Co: Buy at ₹1680-1690; Stop Loss at ₹1650; Target Price of ₹1745.
Bajaj Finance: Buy at ₹1060-1066; Stop Loss at ₹1020; Target Price of ₹1120.
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.
