Market Ends Week on Positive Note Despite Sectoral Weakness
The Indian equity markets concluded the trading week with modest gains as the benchmark Nifty 50 index climbed 0.49% to settle at 26,077 points. This upward movement allowed the index to finish above the psychologically significant 26,000 level, providing optimism for market participants.
However, the sectoral performance throughout the week told a different story, with most indices struggling to maintain momentum. Only the Auto index managed to close in positive territory among all sectoral indices, highlighting the selective nature of the market advance.
Technical Perspective: Key Levels and Market Structure
From a technical standpoint, the Nifty's performance this week has been particularly noteworthy. The index successfully maintained its position above the 25,700–25,800 resistance band throughout the trading sessions, eventually closing above the crucial 26,000 support zone.
Market analysts have identified fresh support levels at 25,700–25,600, while resistance is expected in the 26,300–26,500 range. The derivatives data corroborates this technical outlook, with the highest Call open interest concentrated at the 26,500 and 26,300 strikes, indicating significant resistance points.
Conversely, the Put open interest is highest at the 25,800 and 26,000 strikes, underscoring strong support zones. Technically, the Nifty continues to form a higher-top, higher-bottom pattern, suggesting sustained bullish momentum in the market structure.
Banking Sector Shows Resilience
The banking sector mirrored the broader market's positive trajectory, with the Bank Nifty advancing 0.38% for the week. The index demonstrated strength across both PSU and private sector banks, indicating broad-based participation in the financial space.
Bank Nifty continues to hold firmly above the 56,500–57,000 support cluster, with major resistance positioned in the 59,500–60,000 zone. This performance reinforces the overall positive sentiment in the banking sector, which often acts as a barometer for the broader economy.
Expert Stock Recommendations and Trading Strategy
Market experts have identified several trading opportunities based on the current market setup:
Indian Energy Exchange: Analysts recommend buying in the ₹138-140 range with a stop loss at ₹132 and target price of ₹152.
Piramal Pharma Ltd: Suggested entry at ₹188-190 with stop loss at ₹185 and target of ₹200.
Bajaj Finance: Buying opportunity identified at ₹1005-1015 with stop loss at ₹980 and target price of ₹1060.
Traders are advised to adopt a disciplined buy-on-dips approach in selective stocks while closely monitoring global developments and geopolitical cues for further directional clarity. The broader uptrend is expected to remain intact as long as Nifty sustains above 25,600 and Bank Nifty stays above 57,000.
