This week, Nifty closed near a record high, while Midcap-Smallcap indices appeared weak. According to experts, 26,300 will be a crucial resistance for Nifty next week, and Bank Nifty might face pressure in the 60,500–61,000 range.
Share Market: This week saw b momentum in the domestic stock market. Nifty maintained a positive trend throughout the week, touching upper levels multiple times during trading sessions. The index successfully reached a record high of 26,277 but eventually closed around 26,100. On the other hand, Midcap and Smallcap indices remained under pressure, witnessing selling pressure throughout the week. Investors are now focused on the market for the coming week, and it's important to understand at which levels Nifty and Bank Nifty might face resistance.
Nifty's Movement: A Path Opens Above 26,300
According to Jigar S Patel, Senior Manager of Equity Research at Anand Rathi Group, Nifty has shown a breakout from a bullish cup-and-handle pattern on a long-term timeframe. This breakout indicates the potential for good upside until the first half of 2026.
In the short term, the 26,300 level will be extremely crucial for Nifty. A breakout above this level could take the index to 26,500. However, a small corrective phase might also be observed after this rally.
Currently, broad market divergence remains a concern, and continuous monitoring will be necessary. Nifty's immediate support is at 25,700. If this support is broken, the index's journey towards new highs might be delayed.
Bank Nifty's Trend
Bank Nifty made a new high around 59,600, but subsequently, the index came under pressure. At this level, Bank Nifty faced supply at a crucial long-term trendline.
According to experts, even if Bank Nifty surpasses this level, the 60,500–61,000 resistance zone will pose an even greater obstacle. This is an area where it might be difficult for the index to maintain its upward momentum.
Consequently, Bank Nifty might underperform as it approaches this range in the coming days. Bank Nifty's main support is at 58,500–58,000, which will be a critical level to prevent the index from slipping further down.
