Weekly Market Outlook: Nifty, BankNifty & S&P 500Nifty (25492) closed ~230 points lower this week, trading between 25803–25318 and once again respecting the broad 26150–25250 range.
Price formed a hammer candle near key support at 25300, signaling potential seller exhaustion — however, confirmation is required before expecting a trend reversal.
Bullish Confirmation Setup
Sustaining above 25600 → opens move toward 26000
Break above hammer high with volume = stronger confirmation
Downside / Risk Scenario
Structure remains constructive above 25000
Failure below 25000 could extend correction toward 24650–24580 zone
As highlighted earlier, November tends to be a corrective month, and a retest of 25150–25200 would be healthy.
If Nifty tests and holds this zone, I plan to gradually deploy capital into NiftyBees, MidcapBees & Smallcap ETFs, preparing for the next leg toward new ATHs.
BankNifty
BankNifty closed at 57876, holding firm above the crucial 57600 support.
Bullish Above 57900:
Targets → 58249 / 58469 / 58577 / 58900
Risk Below 57450 (2-day close):
Possible decline toward 56800
BankNifty continues to act as a trend anchor for Nifty, so levels here remain important.
S&P 500
S&P500 ended at 6728, down ~110 points but still forming a potential bullish W-pattern on the weekly chart.
Bullish Continuation:
> 6780 daily close or
> 6920 breakout
→ Targets: 6959 (Fib) / 7122
Risk Trigger:
Monthly low 6550 is key structural support
Break below could lead to 6225 / 6013
(Watch Fed tone, yields & VIX alongside price action)
🎯 Key Takeaways
Hammer at support — wait for confirmation above 25600
Buy-on-dip zone: 25150–25200 (gradual allocation, not aggressive)
BankNifty strength above 57900 crucial for momentum
S&P500 near breakout zone — global cues still supportive
Next week may define whether bulls defend key supports or we get a deeper correction before the next leg up.
