NIFTY 50 – TESTING CRUCIAL RESISTANCE
Nifty closed at 24,353, gaining ~300 points from the previous week.
Weekly High: 24,400 | Weekly Low: 23,555
As discussed earlier, Nifty remained within the 24,800–23,400 range and has now closed near the upper end of the range, indicating underlying strength.
MARKET REGIME
Short-term: Upward momentum within range
Medium-term: Transition phase (not fully bullish yet)
👉 Weekly & monthly timeframes are yet to confirm a full bullish shift
NIFTY – LEVEL MAP
Key Resistance
👉 24,400
Sustaining above → opens upside toward:
24,740 → 24,850 → 25,000
Key Supports
👉 24,150 / 23,950
Losing these levels → short-term retracement likely
Expected Range (Next Week)
👉 25,000 – 23,750
STRUCTURAL VIEW
Markets are showing strength, but confirmation is still pending.
👉 A controlled dip or consolidation (possibly around 2nd week of May)
could help:
Reset momentum
Allow missed participants to enter
This would make the next leg of rally more sustainable.
SECTORAL FOCUS
👉 Banking, PSU, Power & Energy sectors likely to remain in focus
and may outperform in the near term.
BANK NIFTY – MOMENTUM WITH CAUTION
Bank Nifty closed at 56,565, up ~650 points.
While momentum remains strong:
👉 A short-term retracement is still pending
Expected Range:
👉 57,800 – 55,150
Ideally, a mild red candle or consolidation on weekly timeframe
would strengthen the structure before the next upmove.
S&P 500 – BREAKOUT CONFIRMED
S&P 500 closed at 7,126, gaining ~300 points.
After multiple failed attempts since Dec’25:
👉 The index has finally broken and sustained above 6,954
Upside Levels:
7,194
7,292
7,433 (important level)
Pullback Zone:
👉 7,100 – 7,050
Can act as a healthy retracement zone for fresh entries
FINAL VIEW
Nifty: Near breakout zone
Bank Nifty: Strong but needs cooling-off
S&P 500: Breakout confirmed
Structure: Improving but not fully bullish yet
👉 Expect range-bound to bullish movement with intermittent pullbacks
This is not a market to chase blindly —
👉 It is a market to buy dips within structure
CLOSING INSIGHT
Strong markets often move in phases, not straight lines.
A pause or pullback here would be healthy, not bearish.
Nifty closed at 24,353, gaining ~300 points from the previous week.
Weekly High: 24,400 | Weekly Low: 23,555
As discussed earlier, Nifty remained within the 24,800–23,400 range and has now closed near the upper end of the range, indicating underlying strength.
MARKET REGIME
Short-term: Upward momentum within range
Medium-term: Transition phase (not fully bullish yet)
👉 Weekly & monthly timeframes are yet to confirm a full bullish shift
NIFTY – LEVEL MAP
Key Resistance
👉 24,400
Sustaining above → opens upside toward:
24,740 → 24,850 → 25,000
Key Supports
👉 24,150 / 23,950
Losing these levels → short-term retracement likely
Expected Range (Next Week)
👉 25,000 – 23,750
STRUCTURAL VIEW
Markets are showing strength, but confirmation is still pending.
👉 A controlled dip or consolidation (possibly around 2nd week of May)
could help:
Reset momentum
Allow missed participants to enter
This would make the next leg of rally more sustainable.
SECTORAL FOCUS
👉 Banking, PSU, Power & Energy sectors likely to remain in focus
and may outperform in the near term.
BANK NIFTY – MOMENTUM WITH CAUTION
Bank Nifty closed at 56,565, up ~650 points.
While momentum remains strong:
👉 A short-term retracement is still pending
Expected Range:
👉 57,800 – 55,150
Ideally, a mild red candle or consolidation on weekly timeframe
would strengthen the structure before the next upmove.
S&P 500 – BREAKOUT CONFIRMED
S&P 500 closed at 7,126, gaining ~300 points.
After multiple failed attempts since Dec’25:
👉 The index has finally broken and sustained above 6,954
Upside Levels:
7,194
7,292
7,433 (important level)
Pullback Zone:
👉 7,100 – 7,050
Can act as a healthy retracement zone for fresh entries
FINAL VIEW
Nifty: Near breakout zone
Bank Nifty: Strong but needs cooling-off
S&P 500: Breakout confirmed
Structure: Improving but not fully bullish yet
👉 Expect range-bound to bullish movement with intermittent pullbacks
This is not a market to chase blindly —
👉 It is a market to buy dips within structure
CLOSING INSIGHT
Strong markets often move in phases, not straight lines.
A pause or pullback here would be healthy, not bearish.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.