Nifty Weekly Commentary (06th Oct – 10th Oct 2025)
The Nifty 50 index ended the week on a positive note, reclaiming crucial support levels after a sharp correction seen in the previous sessions. The benchmark index closed at 24,894.25, showing signs of recovery from the weekly low near 24,600, as buying interest emerged at lower levels.
Technically, the index found strong support in the 24,600–24,700 zone, aligning with the key demand area highlighted by traders. On the upside, immediate resistance lies near the pivot level of 24,830 and further at R1 – 25,228, as seen on the weekly chart. Sustaining above these levels could open the gates for a move towards 25,846 (R2) in the coming sessions.
The momentum indicator (Stochastic) has turned upward from oversold territory, indicating the possibility of a short-term bullish reversal if the index sustains above the 24,900 zone. However, failure to hold above the pivot level may see renewed selling pressure towards 24,213 (S1) and 23,814 (S2).
From a broader perspective, market sentiment remains cautious amid global cues and FII outflows, but domestic strength in select sectors like banking, FMCG, and IT could provide near-term support.
Investors are advised to keep a close eye on macro data, Q2 earnings season, and US bond yield movements, which are likely to dictate the market trend in the upcoming week.
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