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Nifty 50 Index

* Nifty began the week on a flat note and remained highly volatile amid escalating US–Iran geopolitical tensions and rising crude oil prices. The index closed at 25,571 on Friday, posting a weekly gain of 100 points.

* 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.

* 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.

Bank Nifty Index

* Bank Nifty started the week on a subdued note but saw robust buying interest at lower levels, triggering a sharp rebound to settle at 61,172, up 985 points for the week.

* 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.

* 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.

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