Nifty Weekly Outlook: Mixed Bias With Bank Nifty Watching 61,500 to 62,300

Indian equities traded with sharp swings but held ground during the week. Global geopolitical news and firmer crude oil prices drove risk moves. The Nifty began almost unchanged and stayed volatile amid rising US-Iran tensions. Bank Nifty opened soft, then attracted buying on dips. It rebounded strongly and ended at 61,172, up 985 points.

Axis Securities mapped key technical levels for both benchmarks. The firm flagged the 26,000 area as a near-term hurdle for Nifty. For Bank Nifty, analysts watched 61,500 for a sustained push higher. Technical signals such as moving averages and RSI guided their weekly view. The outlook also set broad trading bands for the week ahead.

Nifty Weekly Outlook"On the weekly chart, Nifty formed a small bullish candle with an upper shadow, highlighting selling pressure near the psychological 26,000 mark. For further upside, the index must decisively reclaim the 40-day EMA at 25,665, which could open the path towards 25,850-26,000. On the downside, the 25,375-25,325 zone- confluence of the previous week's low and the 200-day SMA-is expected to act as strong support, followed by 25,250-25,000 as the next cushion," commented the research analysts of Axis Securities.

"The broad range established in the first week of February (26,341-24,679) continues to serve as the pivotal reference zone for the next decisive move. For the week, we expect Nifty to trade in the range of 26,000-25,000 with mixed bias. The daily RSI remains flat around the 50 mark, oscillating near its reference line, signalling a lack of clear directional momentum," they further stated.

Bank Nifty Weekly Outlook"On the weekly chart, the index formed a robust Bullish Engulfing candlestick pattern. In the context of an ongoing uptrend, this formation signals trend continuation and reinforces the underlying strength. Technically, a decisive move and sustained close above 61,500 could trigger fresh buying momentum, paving the way towards 61,800-62,300 levels. Conversely, a break below 61,000 may invite profit booking, dragging the index towards 60,500-60,000," said the technical research analysts of Axis Securities.

"For the coming week, Bank Nifty is expected to trade within the 62,300- 60,000 range with a positive bias. Momentum indicators further support the constructive outlook, with the weekly RSI and Stochastic oscillator rebounding from oversold territory and holding above their respective reference lines, signalling strengthening momentum," they further added.

Nifty-linked stocks to buy: Axis Securities weekly technical picks

Axis Securities also listed three weekly technical picks with defined ranges. The calls included buy zones, stop losses, and expected upside bands. The suggested holding period stayed at three to four weeks for each idea. Price targets were presented as zones, based on chart patterns and indicators. Key signals included trendlines, breakouts, and Bollinger Band closes.

Stock	Buy range	Stop loss	Upside	Holding period	Upside levels cited
Aditya Birla Sun Life AMC	905-887	855	9%-12%	3 to 4 weeks	978-1,000
Cummins India	4680-4586	4400	10% - 12%	3 to 4 weeks	5,100-5,200
KEI Industries	4700-4606	4400	11%-13%	3 to 4 weeks	5,159-5,250

Aditya Birla Sun Life AMC was assessed as staying in an established uptrend. Axis Securities noted higher highs and higher lows above a rising trendline. Analysts highlighted a breakout above the 918 resistance zone. The move came with a bullish candle and a close above the upper Bollinger Band. RSI also broke above 60 and its reference line.

Cummins India was seen breaking above a Rounded Bottom formed since Dec'25. Axis Securities cited a strong candle clearing 4,615, backed by a volume jump. The stock was described as moving inside a rising channel. It recently bounced off the lower band and headed higher. Weekly RSI gave a positive crossover above its reference line.

KEI Industries was reported to have crossed a falling trendline near 4,570 from mid-Jun'24. The stock stayed above the 20, 50, 100, and 200-day SMAs. Axis Securities also pointed to a weekly upper Bollinger Band close. Weekly RSI crossed above the 50 mark and its reference line. The setup indicated upward potential towards 5,159-5,250.

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred to as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.

Overall, the week combined global risk triggers with firm crude oil prices. Nifty stayed sensitive near 26,000, with supports mapped below 25,375. Bank Nifty recovered strongly and kept a positive technical bias within 62,300-60,000. Axis Securities added three stock setups with defined buy ranges and stops. The outlined levels remained the main guideposts for the week.