Market Wrap

Bulls stayed firmly in control through the past week, shrugging off an early gap-down on Monday and driving a steady recovery across sessions. The Nifty ended with a solid weekly gain of around 1.26%, closing slightly above the 24,350 mark, supported by consistent buying across sectors.

The rally was notably broad-based, reflecting improving market breadth and investor confidence. Among sectors, Consumer Durables stood out as the top performer, extending gains for a second straight session an indication of strengthening demand momentum in discretionary spending.

On the global front, sentiment remained mixed but stable. U.S. markets closed the week with decent gains, providing a supportive backdrop. However, Asian and European markets failed to fully participate, ending with marginal losses and signaling underlying caution among global investors.

Geopolitically, easing tensions offered some relief. Renewed U.S.–Iran diplomatic engagement and temporary ceasefire progress in the Middle East helped reduce immediate risk concerns, though the situation remains fluid.

Back home, the market is transitioning into a critical earnings-driven phase, with investor focus shifting from macro trends to stock-specific opportunities.

What's Ahead

The market now sits at a decisive technical and fundamental juncture, with multiple triggers lined up for the coming week.

Earnings will take center stage, with heavyweight results from HDFC Bank, ICICI Bank, Infosys, and Axis Bank expected to shape near-term sentiment. These results will provide crucial cues on credit growth, asset quality, and IT demand outlook.

On the global side, developments around U.S.–Iran talks and India–U.S. trade discussions will be closely tracked for directional cues.

From a technical standpoint :

• Support: 24,200 – 24,100

• Resistance: 24,520 – 24,730

A decisive breakout beyond this range could set the tone for the next leg of the market.

With mixed global signals and earnings momentum building, volatility is likely to remain elevated. However, this phase also presents ample stock-specific opportunities, favoring a selective and strategy-driven approach.

Market Snapshots

Institutional Activity

Sectoral Performance

Technical Outlook

Nifty 50

The NIFTY 50 extended its recovery, closing at 24,353.55 with a gain of 0.65%, supported by broad-based buying and improving market breadth. The index formed a strong intraday recovery structure after an early dip, indicating sustained buying interest at lower levels. Momentum indicators are strengthening, with RSI moving near the 60 mark, suggesting a positive bias in the near term. However, some resistance is expected as the index approaches higher zones. Technically, the trend remains bullish as long as it holds above the immediate support band of 23,830–23,506, while a decisive move above 24,877 could open the path toward 25,200 levels. Any dip towards support zones may continue to attract buying, keeping the overall undertone positive.

Bank Nifty

The BANK NIFTY maintained its upward trajectory, closing at 56,565.70 with a gain of 0.85%, backed by strong participation across both PSU and private banking stocks. The index showed resilience by recovering from early weakness and closing near the day’s high, reflecting strong underlying demand. The RSI trending towards 60 signals sustained bullish momentum, and the structure suggests continuation of the uptrend. As long as the index holds above key support levels of 54,942–53,938, the bias remains positive. On the upside, a breakout above 58,189 could trigger further momentum towards 59,200, with dips likely to be bought into.

Nifty Financial Services

The NIFTY FINANCIAL SERVICES index closed at 26,521.25, gaining 0.67%, supported by strength in NBFCs, capital market stocks, and selective banking names. The index continues to show a steady upward structure, with improving participation and positive breadth reinforcing the trend. Despite some pressure from insurance stocks, the overall sentiment remains constructive. Technically, the index is holding above key support zones and sustaining higher levels, indicating accumulation on declines. Immediate support is seen around 27,673–26,845, while resistance is placed near 30,350–31,178. A sustained move above resistance could accelerate the uptrend, while dips may offer buying opportunities.

Sensex

The BSE SENSEX closed higher at 78,493.54, up 0.65%, reflecting a firm trend supported by gains across FMCG, power, financials, and select IT stocks. The index displayed a strong recovery pattern after early weakness, indicating continued investor confidence and buying on dips. Market breadth remained favourable, adding strength to the ongoing upmove. From a technical perspective, the index is sustaining above key support levels of 76,798–75,749, keeping the broader trend intact. Resistance is seen at 80,189–81,238, and a breakout above this zone could signal the next leg of the rally. Overall, the structure remains bullish with a buy-on-dips approach likely to persist.