Nifty Weekly: Holds 25,000; 25,140 in Focus

Nifty ended the week near 25,030, after clearing the 23,200 resistance and the 50-week SMA near 24,270 in one decisive move. That SMA now acts as the first support on the weekly chart. The index is consolidating just below the Falling Window resistance around 25,140-25,185. A sustained weekly close above it would bring the 26,000 zone, which has capped earlier swing highs, into play. RSI at about 61 is in positive territory, and the 200-week SMA near 22,734 is well below the current price. Sensibull data as of 6 Nov shows Put OI at 40.01 crore against Call OI at 27.18 crore, with PCR at 1.65 and Max Pain at 24,700 for the 9 Nov weekly expiry, indicating put-heavy positioning. A fall in Brent crude has been a major driver of this rally, so crude’s direction remains the key external factor. Banking has shown good performance in the move, and heavyweights such as HDFC Bank, ICICIBANK , Axis Bank and Kotak Mahindra Bank are worth tracking for follow-through. A close back below 24,270 would call this breakout into question. After a sharp breakout, the broken level often turns into support; tracking it along with resistance and options data shows whether the move can hold. Disclaimer: This is for educational purposes only and is not investment advice. Please consult your financial advisor before making any investment decisions. SEBI Registered Research Analyst — INH000025212.