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Nifty 5022,889.65 +1.18%
India VIX14.69 +0.41%USD/INR94.92 -0.39%
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: 2026-10-09
Overall weekly bias
Week: 2026-10-12 → 2026-10-16 · Data cut-off: 2026-10-09
Neutral

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

nifty_50: Neutralbank_nifty: Neutralsensex: Neutral
Nifty 50
Neutral
22,520.45▲ 0.44%
Confidence
Moderate
Market regime
Consolidation
Technical score
-1
RSI (14)
34.3
Close vs 20 EMA
22,947.33
Weekly range
22,179.90 — 22,776.10
Immediate resistance
22,804.40 · 23,088.35
Immediate support
22,208.20 · 21,895.95
Bias invalidation
Bias valid above 22,208.20 · Bearish risk below 21,895.95 · Bullish upside above 22,804.40
Expected weekly range: 22,162.73 — 22,878.17
Bank Nifty
Neutral
55,256.65▲ 1.48%
Confidence
Moderate
Market regime
Consolidation
Technical score
+0
RSI (14)
40.6
Close vs 20 EMA
55,478.31
Weekly range
54,370.60 — 55,419.30
Immediate resistance
55,660.43 · 56,064.22
Immediate support
54,611.73 · 53,966.82
Bias invalidation
Bias valid above 54,611.73 · Bearish risk below 53,966.82 · Bullish upside above 55,660.43
Expected weekly range: 54,627.43 — 55,885.87
Sensex
Neutral
72,472.33▲ 0.78%
Confidence
Moderate
Market regime
Consolidation
Technical score
+0
RSI (14)
39.0
Close vs 20 EMA
73,508.44
Weekly range
71,327.75 — 73,067.81
Immediate resistance
73,250.84 · 74,029.36
Immediate support
71,510.78 · 70,549.23
Bias invalidation
Bias valid above 71,510.78 · Bearish risk below 70,549.23 · Bullish upside above 73,250.84
Expected weekly range: 71,428.29 — 73,516.36

Previous week at a glance

Nifty 50
Open · High
22,532.40 · 22,776.10
Low · Close
22,179.90 · 22,520.45
Return
0.44%
Range (pts / %)
596.20 · 2.66%
Sessions +/−
3 / 2
Candle type
Bearish rejection candle
Low 22,179.90Close 22,520.45 · 57%High 22,776.10
Strongest session
2026-10-09+205.50
Weakest session
2026-10-08-367.25
Bank Nifty
Open · High
54,840.65 · 55,419.30
Low · Close
54,370.60 · 55,256.65
Return
1.48%
Range (pts / %)
1,048.70 · 1.93%
Sessions +/−
3 / 2
Candle type
Neutral candle
Low 54,370.60Close 55,256.65 · 84%High 55,419.30
Strongest session
2026-10-09+510.40
Weakest session
2026-10-08-527.85
Sensex
Open · High
72,340.95 · 73,067.81
Low · Close
71,327.75 · 72,472.33
Return
0.78%
Range (pts / %)
1,740.06 · 2.42%
Sessions +/−
3 / 2
Candle type
Bullish candle with upper wick
Low 71,327.75Close 72,472.33 · 66%High 73,067.81
Strongest session
2026-10-09+695.66
Weakest session
2026-10-08-1,074.76

Technical scorecards

NIFTY 50
Total -1
IndicatorReadingSignalScore
Weekly structureHigher highPositive+1
Close vs 20 EMABelow (22947.33)Negative-1
Close vs 50 EMABelow (23431.11)Negative-1
Close vs 200 EMABelow (24330.98)Negative-1
RSI (14)34.34Negative-1
Weekly return+0.44%Neutral+0
BANK NIFTY
Total +0
IndicatorReadingSignalScore
Weekly structureHigher highPositive+1
Close vs 20 EMABelow (55478.31)Negative-1
Close vs 50 EMABelow (56216.59)Negative-1
Close vs 200 EMABelow (57081.64)Negative-1
RSI (14)40.60Negative-1
Weekly return+1.48%Positive+1
SENSEX
Total +0
IndicatorReadingSignalScore
Weekly structureHigher highPositive+1
Close vs 20 EMABelow (73508.44)Negative-1
Close vs 50 EMABelow (74977.51)Negative-1
Close vs 200 EMABelow (78346.66)Negative-1
RSI (14)38.96Negative-1
Weekly return+0.78%Positive+1

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
22,151.90 — 22,264.50Strong3
Weekly pivotWeekly lowPsychological 22200
21,839.65 — 21,952.25Moderate2
Weekly pivotPsychological 21900
Resistance zones
ZoneStrengthConfluenceFactors
22,748.10 — 22,860.70Strong3
Weekly pivotWeekly highPsychological 22800
23,032.05 — 23,144.65Moderate2
Weekly pivotPsychological 23100
Bank Nifty
Support zones
ZoneStrengthConfluenceFactors
54,473.59 — 54,749.87Moderate2
Weekly pivotPsychological 54500
53,828.68 — 54,104.96Moderate2
Weekly pivotPsychological 54000
Resistance zones
ZoneStrengthConfluenceFactors
55,522.29 — 55,798.57Moderate2
Weekly pivotPsychological 55700
55,926.07 — 56,202.36Moderate2
Weekly pivotPsychological 56000
Sensex
Support zones
ZoneStrengthConfluenceFactors
71,329.60 — 71,691.96Moderate2
Weekly pivotPsychological 71500
70,368.05 — 70,730.42Moderate2
Weekly pivotPsychological 70500
Resistance zones
ZoneStrengthConfluenceFactors
73,069.66 — 73,432.02Moderate2
Weekly pivotPsychological 73300
73,848.18 — 74,210.54Moderate2
Weekly pivotPsychological 74000

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 22,520.45
Historical volatility
22,096.87 — 22,944.03
Width 847.16
Previous-week range
22,162.73 — 22,878.17
Width 715.44
Options-implied
22,308.70 — 22,732.20
Width 423.50
Combined reference
22,189.43 — 22,851.47
Width 662.04

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 55,256.65
Historical volatility
54,145.04 — 56,368.25
Width 2,223.21
Previous-week range
54,627.43 — 55,885.87
Width 1,258.44
Options-implied
53,829.90 — 56,683.40
Width 2,853.50
Combined reference
54,200.79 — 56,312.51
Width 2,111.72

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 72,472.33
Historical volatility
71,161.81 — 73,782.85
Width 2,621.04
Previous-week range
71,428.29 — 73,516.36
Width 2,088.07
Options-implied
71,507.23 — 73,437.43
Width 1,930.20
Combined reference
71,365.78 — 73,578.88
Width 2,213.10

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 2026-10-13
22,520.45ATM 22,500
PCR (OI)
1.270
PCR (volume)
0.964
Max pain
22,500
ATM straddle
211.75
Implied move
± 0.94%
Call wall
23,000
Put floor
22,500
Options-implied range
22,308.70 — 22,732.20

Put OI dominant — supportive positioning

Bank Nifty
Exp 2026-10-27
55,256.65ATM 55,300
PCR (OI)
0.982
PCR (volume)
0.917
Max pain
55,700
ATM straddle
1,426.75
Implied move
± 2.58%
Call wall
56,000
Put floor
55,000
Options-implied range
53,829.90 — 56,683.40

Balanced positioning

Sensex
Exp 2026-10-15
72,472.33ATM 72,500
PCR (OI)
1.641
PCR (volume)
0.816
Max pain
72,500
ATM straddle
965.10
Implied move
± 1.33%
Call wall
76,000
Put floor
70,000
Options-implied range
71,507.23 — 73,437.43

Put OI dominant — supportive 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 22,500)
CE OICE ΔCE IVStrikePE IVPE ΔPE OI
5,00,305019.822,00015.101,28,39,385
1,19,470019.622,05014.6030,18,535
3,49,505018.122,10014.0061,10,130
2,13,070017.222,15013.4034,86,405
11,35,875016.222,20012.9087,38,795
6,88,935015.222,25012.4045,70,475
19,28,810014.422,30012.001,15,60,185
10,43,575013.822,35011.5051,79,525
29,39,820013.122,40011.001,08,72,160
17,60,655012.622,45010.6054,08,455
98,98,460012.122,500ATM10.201,31,91,165
38,29,930011.822,5509.9040,70,950
77,54,955011.522,6009.5041,38,745
36,64,700011.322,6509.0013,64,545
95,73,395011.122,7008.6031,43,205
42,34,165011.022,7508.005,54,905
84,08,595011.022,8005.7010,24,920
38,82,060011.022,8500.001,73,810
96,32,415011.022,9000.005,46,585
40,94,935011.322,9500.002,38,160
1,45,37,185011.723,0000.008,65,280
Bank Nifty · OI ladder (±10 strikes around ATM 55,300)
CE OICE ΔCE IVStrikePE IVPE ΔPE OI
64,380014.854,30016.0095,130
33,420014.654,40015.8089,280
2,19,450014.854,50015.704,50,960
53,910014.454,60015.601,09,110
94,710014.354,70015.401,63,710
1,01,850014.354,80015.401,62,810
1,25,820014.554,90015.101,60,800
9,32,430014.555,00015.0012,41,640
1,10,400014.455,10015.001,62,960
1,62,600014.455,20014.902,18,370
2,08,410014.155,300ATM14.802,17,470
1,32,780014.255,40014.501,31,790
7,43,460014.055,50014.606,46,470
1,10,130013.955,60014.4048,990
1,25,670013.955,70014.4039,300
1,50,600013.855,80014.2059,580
90,960013.655,90014.1050,970
11,53,830013.656,00014.106,63,090
53,040013.656,10014.1012,360
1,06,470013.556,20014.5018,330
69,420013.656,30013.9017,430
Sensex · OI ladder (±10 strikes around ATM 72,500)
CE OICE ΔCE IVStrikePE IVPE ΔPE OI
1,74,940015.971,50014.505,82,200
64,140015.671,60014.102,13,460
65,580015.371,70013.901,86,980
61,880015.171,80013.802,65,100
57,240014.571,90013.602,37,360
2,65,900014.572,00013.509,40,460
84,300014.472,10013.202,63,460
1,04,520014.372,20013.102,73,480
1,49,900014.172,30012.903,66,220
2,14,700013.772,40012.603,50,040
4,39,840013.672,500ATM12.406,86,480
2,23,760013.372,60012.302,43,820
1,80,860013.272,70012.101,75,140
1,35,360013.072,80011.9079,620
1,19,200012.972,90011.7038,340
3,83,580012.873,00011.502,28,220
90,020012.673,10011.4019,200
1,98,140012.673,20011.2059,160
1,15,540012.473,30010.8015,080
1,03,160012.273,40010.7010,200
3,08,420012.273,50010.601,28,260

Conditional scenarios · bullish / range-bound / bearish

Nifty 50
Bullish scenario
Trigger 22,804.40 · A sustained move above 22804.4 with supportive breadth may open room toward 23088.35.
Invalidates if price returns below 22,208.20.
Range-bound scenario
Range 22,208.20 — 22,804.40. Trading between 22208.2 and 22804.4 would indicate continued consolidation near the pivot at 22492.15.
Bearish scenario
Trigger 22,208.20 · A sustained break below 22208.2 may expose the 21895.95 support zone.
Invalidates if price recovers above 22,804.40.
Bias invalidation framework
Bias valid above 22,208.20 · Bearish risk below 21,895.95 · Bullish conviction above 22,804.40
Bank Nifty
Bullish scenario
Trigger 55,660.43 · A sustained move above 55660.43 with supportive breadth may open room toward 56064.22.
Invalidates if price returns below 54,611.73.
Range-bound scenario
Range 54,611.73 — 55,660.43. Trading between 54611.73 and 55660.43 would indicate continued consolidation near the pivot at 55015.52.
Bearish scenario
Trigger 54,611.73 · A sustained break below 54611.73 may expose the 53966.82 support zone.
Invalidates if price recovers above 55,660.43.
Bias invalidation framework
Bias valid above 54,611.73 · Bearish risk below 53,966.82 · Bullish conviction above 55,660.43
Sensex
Bullish scenario
Trigger 73,250.84 · A sustained move above 73250.84 with supportive breadth may open room toward 74029.36.
Invalidates if price returns below 71,510.78.
Range-bound scenario
Range 71,510.78 — 73,250.84. Trading between 71510.78 and 73250.84 would indicate continued consolidation near the pivot at 72289.3.
Bearish scenario
Trigger 71,510.78 · A sustained break below 71510.78 may expose the 70549.23 support zone.
Invalidates if price recovers above 73,250.84.
Bias invalidation framework
Bias valid above 71,510.78 · Bearish risk below 70,549.23 · Bullish conviction above 73,250.84

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

Market breadth & sector confirmation

Advances vs declines
6,7402,7762.43× A/D
Strong Positive Breadth
52W highs / lows
51215
Sector participation
12up1down
Leading: IT, FMCG, PSU Bank
Lagging: Oil & Gas

Heavyweight contribution

Top positive Nifty 50 movers
  1. APOLLOHOSP
    APOLLO HOSPITALS ENTER. L
    +4.72%
  2. ITC
    ITC LTD
    +4.31%
  3. EICHERMOT
    EICHER MOTORS LTD
    +4.17%
  4. TCS
    TATA CONSULTANCY SERV LT
    +3.85%
  5. HCLTECH
    HCL TECHNOLOGIES LTD
    +3.38%
Top negative Nifty 50 movers
  1. BSE
    BSE LIMITED
    -1.43%
  2. RELIANCE
    RELIANCE INDUSTRIES LTD
    -0.65%
  3. JSWSTEEL
    JSW STEEL LIMITED
    -0.61%
  4. CIPLA
    CIPLA LTD
    -0.44%
  5. SUNPHARMA
    SUN PHARMACEUTICAL IND L
    +0.01%

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

Institutional positioning (FII / DII)

As of 09-Oct-2026
FII cash segment
Net-3,569₹ cr
Buy+10,374₹ cr
Sell+13,943₹ cr
DII cash segment
Net+4,743₹ cr
Buy+15,627₹ cr
Sell+10,883₹ cr

Events that could change the technical setup

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

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