Live World MarketLiveWorldMarket
Nifty 5023,140.50 +0.34%
India VIX12.16 -4.18%USD/INR95.75 -0.23%
Market Analysis

Weekly Technical Outlook

Support, resistance, trend bias and options-driven technical scenarios for Nifty 50, Bank Nifty and Sensex.

Data as of Data cut-off: 2026-09-25
Overall weekly bias
Week: 2026-09-28 → 2026-10-02 · Data cut-off: 2026-09-25
Negative weekly bias

Nifty 50: Mildly Bearish, Bank Nifty: Mildly Bearish, Sensex: Neutral. Confidence varies by index.

nifty_50: Mildly Bearishbank_nifty: Mildly Bearishsensex: Neutral
Nifty 50
Mildly Bearish
23,140.50▼ -0.88%
Confidence
Low
Market regime
Consolidation
Technical score
-2
RSI (14)
29.3
Close vs 20 EMA
23,517.64
Weekly range
23,020.95 — 23,489.00
Immediate resistance
23,412.68 · 23,684.87
Immediate support
22,944.63 · 22,748.77
Bias invalidation
Bias valid above 22,944.63 · Bearish risk below 22,748.77 · Bullish upside above 23,412.68
Expected weekly range: 22,859.67 — 23,421.33
Bank Nifty
Mildly Bearish
55,580.40▼ -1.38%
Confidence
Moderate
Market regime
Consolidation
Technical score
-2
RSI (14)
32.8
Close vs 20 EMA
56,498.95
Weekly range
55,341.20 — 56,671.10
Immediate resistance
56,387.27 · 57,194.14
Immediate support
55,057.36 · 54,534.33
Bias invalidation
Bias valid above 55,057.36 · Bearish risk below 54,534.33 · Bullish upside above 56,387.27
Expected weekly range: 54,782.46 — 56,378.34
Sensex
Neutral
73,895.74▼ -0.54%
Confidence
Low
Market regime
Consolidation
Technical score
-1
RSI (14)
27.9
Close vs 20 EMA
75,128.75
Weekly range
73,477.77 — 75,038.93
Immediate resistance
74,797.19 · 75,698.64
Immediate support
73,236.03 · 72,576.33
Bias invalidation
Bias valid above 73,236.03 · Bearish risk below 72,576.33 · Bullish upside above 74,797.19
Expected weekly range: 72,959.05 — 74,832.44

Previous week at a glance

Nifty 50
Open · High
23,330.20 · 23,489.00
Low · Close
23,020.95 · 23,140.50
Return
-0.88%
Range (pts / %)
468.05 · 2.01%
Sessions +/−
3 / 2
Candle type
Neutral candle
Low 23,020.95Close 23,140.50 · 26%High 23,489.00
Strongest session
2026-09-25+105.50
Weakest session
2026-09-24-158.70
Bank Nifty
Open · High
56,361.90 · 56,671.10
Low · Close
55,341.20 · 55,580.40
Return
-1.38%
Range (pts / %)
1,329.90 · 2.36%
Sessions +/−
3 / 2
Candle type
Neutral candle
Low 55,341.20Close 55,580.40 · 18%High 56,671.10
Strongest session
2026-09-23+339.25
Weakest session
2026-09-22-274.35
Sensex
Open · High
74,535.18 · 75,038.93
Low · Close
73,477.77 · 73,895.74
Return
-0.54%
Range (pts / %)
1,561.16 · 2.10%
Sessions +/−
3 / 2
Candle type
Neutral candle
Low 73,477.77Close 73,895.74 · 27%High 75,038.93
Strongest session
2026-09-25+369.82
Weakest session
2026-09-24-691.86

Technical scorecards

NIFTY 50
Total -2
IndicatorReadingSignalScore
Weekly structureHigher highPositive+1
Close vs 20 EMABelow (23517.64)Negative-1
Close vs 50 EMABelow (23803.81)Negative-1
Close vs 200 EMABelow (24477.18)Negative-1
RSI (14)29.33Negative-1
Weekly return-0.88%Negative-1
BANK NIFTY
Total -2
IndicatorReadingSignalScore
Weekly structureHigher highPositive+1
Close vs 20 EMABelow (56498.95)Negative-1
Close vs 50 EMABelow (56854.42)Negative-1
Close vs 200 EMABelow (57234.18)Negative-1
RSI (14)32.75Negative-1
Weekly return-1.38%Negative-1
SENSEX
Total -1
IndicatorReadingSignalScore
Weekly structureHigher highPositive+1
Close vs 20 EMABelow (75128.75)Negative-1
Close vs 50 EMABelow (76087.50)Negative-1
Close vs 200 EMABelow (78839.90)Negative-1
RSI (14)27.87Negative-1
Weekly return-0.54%Neutral+0

Recommended bands: +6 Strong Bullish · +3 to +5 Bullish · −2 to +2 Neutral · −3 to −5 Bearish · −6 Strong Bearish.

Support & resistance zones (with confluence scoring)

Nifty 50
Support zones
ZoneStrengthConfluenceFactors
22,886.78 — 23,002.48Moderate2
Weekly pivotPsychological 23000
22,690.91 — 22,806.62Moderate2
Weekly pivotPsychological 22700
Resistance zones
ZoneStrengthConfluenceFactors
23,354.83 — 23,470.53Moderate2
Weekly pivotPsychological 23400
23,627.02 — 23,742.72Moderate2
Weekly pivotPsychological 23700
Bank Nifty
Support zones
ZoneStrengthConfluenceFactors
54,918.41 — 55,196.32Moderate2
Weekly pivotPsychological 55000
54,395.38 — 54,673.28Moderate2
Weekly pivotPsychological 54500
Resistance zones
ZoneStrengthConfluenceFactors
56,248.32 — 56,526.22Strong3
Weekly pivot20 EMAPsychological 56500
57,055.18 — 57,333.09Moderate2
Weekly pivotPsychological 57200
Sensex
Support zones
ZoneStrengthConfluenceFactors
73,051.29 — 73,420.77Moderate2
Weekly pivotPsychological 73200
72,391.59 — 72,761.06Moderate2
Weekly pivotPsychological 72500
Resistance zones
ZoneStrengthConfluenceFactors
74,612.45 — 74,981.93Moderate2
Weekly pivotPsychological 74800
75,513.90 — 75,883.38Moderate2
Weekly pivotPsychological 75700

Confluence counts independent factors overlapping the zone (weekly pivot, moving averages, weekly high/low, psychological round-numbers).

Expected weekly ranges (multi-method)

Nifty 50
Close 23,140.50
Historical volatility
22,847.33 — 23,433.67
Width 586.34
Previous-week range
22,859.67 — 23,421.33
Width 561.66
Options-implied
22,944.50 — 23,336.50
Width 392.00
Combined reference
22,883.83 — 23,397.17
Width 513.34

Historical volatility uses the last 20 daily returns × √5. Previous-week range is scaled by 0.6. Combined = midpoint of the two ranges. Options-implied range is populated when weekly ATM straddle data is available.

Bank Nifty
Close 55,580.40
Historical volatility
54,660.26 — 56,500.53
Width 1,840.27
Previous-week range
54,782.46 — 56,378.34
Width 1,595.88
Options-implied
55,024.50 — 56,136.30
Width 1,111.80
Combined reference
54,822.41 — 56,338.39
Width 1,515.98

Historical volatility uses the last 20 daily returns × √5. Previous-week range is scaled by 0.6. Combined = midpoint of the two ranges. Options-implied range is populated when weekly ATM straddle data is available.

Sensex
Close 73,895.74
Historical volatility
72,884.53 — 74,906.95
Width 2,022.42
Previous-week range
72,959.05 — 74,832.44
Width 1,873.39
Options-implied
73,014.74 — 74,776.74
Width 1,762.00
Combined reference
72,952.77 — 74,838.71
Width 1,885.94

Historical volatility uses the last 20 daily returns × √5. Previous-week range is scaled by 0.6. Combined = midpoint of the two ranges. Options-implied range is populated when weekly ATM straddle data is available.

Options positioning

Nifty 50
Exp 2026-09-29
23,140.50ATM 23,150
PCR (OI)
0.921
PCR (volume)
1.055
Max pain
23,250
ATM straddle
196.00
Implied move
± 0.85%
Call wall
24,000
Put floor
23,000
Options-implied range
22,944.50 — 23,336.50

Balanced positioning

Bank Nifty
Exp 2026-09-29
55,580.40ATM 55,600
PCR (OI)
0.798
PCR (volume)
1.014
Max pain
56,500
ATM straddle
555.90
Implied move
± 1.00%
Call wall
57,500
Put floor
57,500
Options-implied range
55,024.50 — 56,136.30

Balanced positioning

Sensex
Exp 2026-10-01
73,895.74ATM 73,900
PCR (OI)
1.094
PCR (volume)
1.058
Max pain
74,000
ATM straddle
881.00
Implied move
± 1.19%
Call wall
77,000
Put floor
69,000
Options-implied range
73,014.74 — 74,776.74

Balanced positioning

PCR = Put OI / Call OI. Values ≥ 1.25 = put-heavy, potentially supportive. ≤ 0.75 = call-heavy, potentially resistance-heavy. Options positioning may change materially after the market opens, around major events and near contract expiry.

Options open-interest heatmap

Nifty 50 · OI ladder (±10 strikes around ATM 23,150)
CE OICE ΔCE IVStrikePE IVPE ΔPE OI
46,735010.022,65013.2028,81,385
1,25,970013.022,70012.7065,41,015
61,035013.222,75012.2036,43,965
4,13,595011.922,80011.8089,19,560
1,02,050012.222,85011.4044,08,560
4,57,015011.422,90011.1065,53,950
4,05,275011.222,95010.9034,37,590
33,55,885010.923,00010.601,46,07,435
24,09,875010.923,05010.3063,62,525
93,00,265010.523,10010.001,14,53,000
38,17,255010.323,150ATM9.9041,74,755
97,81,590010.123,2009.8064,09,455
61,96,125010.023,2509.7034,43,960
99,01,905010.023,3009.5051,54,890
52,32,500010.123,3509.508,98,625
1,00,38,405010.123,4009.5036,10,945
44,97,870010.223,4509.709,01,030
1,46,24,220010.423,5009.9048,46,140
53,73,160010.623,5509.003,14,990
77,42,085010.923,60010.0011,57,065
39,97,370011.323,6508.102,30,685
Bank Nifty · OI ladder (±10 strikes around ATM 55,600)
CE OICE ΔCE IVStrikePE IVPE ΔPE OI
54,630010.454,60014.101,60,650
3,240012.354,70013.801,22,580
4,560012.254,80013.601,61,100
1,07,730012.654,90013.501,14,600
1,15,500011.855,00013.209,10,230
14,820012.055,10013.101,81,260
38,010011.855,20013.002,09,850
66,270011.855,30012.704,39,170
90,660011.655,40012.702,52,000
4,49,670011.555,50012.606,98,970
3,05,370011.655,600ATM12.303,58,080
3,45,510011.455,70012.302,62,650
3,39,750011.455,80012.402,58,900
2,68,200011.555,90012.301,77,960
10,23,300011.456,00012.206,82,380
2,11,020011.556,10012.4096,780
3,51,510011.556,20012.701,25,970
2,75,070011.656,30012.601,30,740
3,71,130011.756,40012.901,33,620
11,28,000011.856,50013.205,33,700
4,05,930012.056,60014.201,39,080
Sensex · OI ladder (±10 strikes around ATM 73,900)
CE OICE ΔCE IVStrikePE IVPE ΔPE OI
5,520014.972,90012.1073,420
48,940015.173,00011.903,94,900
8,540014.373,10011.8095,000
18,060014.573,20011.601,25,800
22,920013.973,30011.402,20,140
35,280013.873,40011.301,81,300
1,63,080013.473,50011.105,44,140
1,04,960013.273,60011.103,46,120
2,48,340013.173,70010.803,74,020
2,39,820012.773,80010.703,15,060
1,84,680012.773,900ATM10.402,27,560
5,89,540012.574,00010.305,76,920
2,40,320012.474,10010.2096,440
2,19,820012.374,2009.901,20,120
1,49,640011.974,3009.7069,720
94,720012.074,4009.5027,760
4,37,280011.874,5009.202,32,580
2,00,620011.774,6008.9026,580
1,23,100011.674,7008.7019,880
1,83,420011.574,8008.1036,280
1,19,700011.574,9008.2015,360

Conditional scenarios · bullish / range-bound / bearish

Nifty 50
Bullish scenario
Trigger 23,412.68 · A sustained move above 23412.68 with supportive breadth may open room toward 23684.87.
Invalidates if price returns below 22,944.63.
Range-bound scenario
Range 22,944.63 — 23,412.68. Trading between 22944.63 and 23412.68 would indicate continued consolidation near the pivot at 23216.82.
Bearish scenario
Trigger 22,944.63 · A sustained break below 22944.63 may expose the 22748.77 support zone.
Invalidates if price recovers above 23,412.68.
Bias invalidation framework
Bias valid above 22,944.63 · Bearish risk below 22,748.77 · Bullish conviction above 23,412.68
Bank Nifty
Bullish scenario
Trigger 56,387.27 · A sustained move above 56387.27 with supportive breadth may open room toward 57194.14.
Invalidates if price returns below 55,057.36.
Range-bound scenario
Range 55,057.36 — 56,387.27. Trading between 55057.36 and 56387.27 would indicate continued consolidation near the pivot at 55864.23.
Bearish scenario
Trigger 55,057.36 · A sustained break below 55057.36 may expose the 54534.33 support zone.
Invalidates if price recovers above 56,387.27.
Bias invalidation framework
Bias valid above 55,057.36 · Bearish risk below 54,534.33 · Bullish conviction above 56,387.27
Sensex
Bullish scenario
Trigger 74,797.19 · A sustained move above 74797.19 with supportive breadth may open room toward 75698.64.
Invalidates if price returns below 73,236.03.
Range-bound scenario
Range 73,236.03 — 74,797.19. Trading between 73236.03 and 74797.19 would indicate continued consolidation near the pivot at 74137.48.
Bearish scenario
Trigger 73,236.03 · A sustained break below 73236.03 may expose the 72576.33 support zone.
Invalidates if price recovers above 74,797.19.
Bias invalidation framework
Bias valid above 73,236.03 · Bearish risk below 72,576.33 · Bullish conviction above 74,797.19

Scenarios are conditional and use rule-based technical zones. Not personalised trading or hedging recommendations.

Market breadth & sector confirmation

Advances vs declines
5,0394,4901.12× A/D
Mixed Breadth
52W highs / lows
90120
Sector participation
8up5down
Leading: Consumer Durables, Realty, Auto
Lagging: Healthcare, Media, IT

Heavyweight contribution

Top positive Nifty 50 movers
  1. AXISBANK
    AXIS BANK LIMITED
    +3.03%
  2. ASIANPAINT
    ASIAN PAINTS LIMITED
    +2.14%
  3. M&M
    MAHINDRA & MAHINDRA LTD
    +1.75%
  4. BAJFINANCE
    BAJAJ FINANCE LIMITED
    +1.52%
  5. POWERGRID
    POWER GRID CORP. LTD.
    +1.16%
Top negative Nifty 50 movers
  1. MAXHEALTH
    MAX HEALTHCARE INS LTD
    -3.06%
  2. TMPV
    TATA MOTORS PASS VEH LTD
    -1.54%
  3. INFY
    INFOSYS LIMITED
    -1.41%
  4. ONGC
    OIL AND NATURAL GAS CORP.
    -1.31%
  5. TRENT
    TRENT LTD
    -1.14%

Nifty 50 constituents (screener_snapshots) · % change is a proxy for approximate index-point contribution.

Institutional positioning (FII / DII)

As of 25-Sep-2026
FII cash segment
Net-3,694₹ cr
Buy+12,327₹ cr
Sell+16,021₹ cr
DII cash segment
Net+2,838₹ cr
Buy+14,036₹ cr
Sell+11,198₹ cr

Events that could change the technical setup

Later this week
  1. 23:30USUS Non-Farm Payrolls (Sep)GoldSilverUSD/INR
  2. 23:30USUS CPI (Sep)GoldSilverUSD/INR
  3. 23:30USFOMC Rate Decision + Powell PresserAll marketsGoldSilver
  4. 23:30USUS Non-Farm Payrolls (Oct)GoldSilverUSD/INR

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