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The benchmark index started the week on a negative note breaching below the 100 DMA and the oppression continued for the next 2 trading sessions. However, the drawdowns showed resilience to 200 DEMA, and the week ended on a mild short recovery note rebounding from the average line. With this, the resistance has been dragged further lower to the zone of 19330-19235 and the index is anticipated to attract any bullish strength on reclaiming this zone decisively on a weekly closing basis. On the contrary, the levels of 18830 and 18600 are anticipated to act as strong support and a breach below this zone will invite further selling pressure.

Supp:18830-18600-18500
Res:19070-19230-19335

The benchmark index had a muted start to the week, however, it encountered stronger rejection near 19850 where the price action observed the formation of a bearish island and added 2 distribution days during the trading week. With this, the supply zone has been dragged lower to 19900-19850, and reclaiming this zone to attract bullish strength will be of cardinal importance. On the contrary, the selling pressure is anticipated to intensify on a weekly close below the institutional support level of 19330.

Supp: 19500-19450-19330
Res: 19670-19850-19990

The 50 index opened under selling pressure owning to the Israel-Hamas war, however, the index managed to pull higher amidst the pullback rally. The upside remained capped ahead of the 38.2% retracement level of its prior swing high and low while the VIX surged 3.8% during the week. The consecutive gap-down areas in the last throwback rally from the life-highs are anticipated to act as stronger resistance zone. It will be crucial that these gaps be decisively filled and reclaimed to attract bullish strength.

Supp:19770-19700-19650
Res:19840-19900-19990

The 50 index opened on a weak note for the truncated week, marked a low of 19333 on Wednesday and witnessed a sharp technical pullback to recover 320 points and closed in the upper quartile of the weekly trading range while reclaiming the 50DMA currently trading near 19607 on Friday. The index has formed a bullish reversal island which indicates the setting up of an intermediate bottom with the level of 19330 to act as relatively stronger pivotal support. The strikes of 19600 have seen the addition of the highest put open interest during the week while on the technical front, the 61.8% retracement level coupled with 50DMA offers immediate support near the levels of 19600. On the upside, 19760 and 19900 are expected to act as resistance.  

Supp: 19550-19430-19330
Res: 19765-19900-19990

The trading week opened on a flattish note and traded laterally at the back of 50 DEMA and 61.8% retracement of the prior swing
high and low. The week closed with the formation of an inside bar at the mentioned support which indicates a potential sign of a
mild pullback following a tighter compression. While the resistance has been dragged lower to the zone of 19900-19840, the
strikes of 19600 and 19500 have seen the highest put open interest, indicating potential support going forward.

Supp:19500-19400-19200
Res:19765-19840-19900

The 50 index closed higher on all five trading sessions in the previous week as the investors generated even modest buying interest after reclaiming the 50 DMA. The index ascended 2% in the week while the VIX cooled off 4.3%, however, the undercurrent in the markets remains strong. With this, the price action has now dragged their support higher to 19650-19500. The trading week saw a larger addition in the call open interest in the 20000. On the price action front, the levels of 19990 and 20250 are anticipated to act as potential resistance in the week to come.

Supp:19680-19500-19250
Res: 19890-19990-20250

The benchmark index opened in green, marked the weekly high at 19584, and succumbed to selling pressure tracking weak global
cues following which it pared 318 points. The index closed in red on relatively higher volume, however, above the previous week’s low. With this, the index dragged its resistance lower to 19500. The VIX expanded its weekly range to 2.36 points, however, it closed flat. On the derivate front, the strikes of 19000 and 19200 witnessed the highest addition of put open interest and the zone is reckoned to act as strong support going forward.

Support: 19235-19080-19000
Resistance: 19380-19480-19600

Nifty saw a muted opening for the week and remained sideways within 229 points trading range, however with a 5.4% rise in
VIX. The trading week also saw compressing of volatility and closed on an indecision note on Friday. With the conjecture of
multi-support following the previous gap area, key moving averages on the daily and higher timeframe, and the build-up of put
open interest at 19300, the zone of 19300-19240 is anticipated act as a crucial support zone and sustenance above the same
on a weekly closing basis will attract bullish strength.
Supp:19300-19170-19000
Res: 19465-19580-19645

After testing the prior top of 18887 multiple times in the previous week, the benchmark index finally moved past it following constructive base and closed near the high point of the week. The move came on relatively lower volume and volatility, but on improving market breadth. With this the index has dragged its support higher to 19000 going by the price action and the derivative data and in the event of any consolidation, the level is likely to bolster immediate support. 

Supp: 19070-18970-18887 
Res: 19200-19300-19400

As the uptrend remains under pressure, the benchmark index saw corrective bouts during the week and increased the distribution tally to 5 on Thursday’s closing in the previous week. With this, the index has dragged its resistance to the zone of 19730 – 19500. The VIX surged 9% during the week, however, it continues to trade at lower levels with 20WEMA trading at 11.71 acting as an immediate hindrance which is a positive sign. We reckon the zone of 19000 to bolster support for the negative slopping price trend based on the derivative option data and price action front and anticipate the price trend to resume its upside on taking out the zone of 19730-19990. 

Supp:19300-19180-19000 
Res: 19520-19650-19735