Nifty 50 Weekly Outlook: October 2>
Complete analysis of weekly market performance, key events, and technical outlook
The Nifty 50 index experienced a week of consolidation with mixed performance across sectors. The week started strong but ended with profit booking as investors took gains after a sustained rally. The index closed the week at 25,795.15, showing resilience despite global uncertainties and domestic economic data.
| Day | Market Action | Nifty 50 Close | Key Highlights |
|---|---|---|---|
| Monday, Oct 20 |
Gains
|
25,843.15 +133.30 pts |
Fourth straight day of gains; rally led by Reliance Industries and foreign fund inflows |
| Tuesday, Oct 21 |
Market Closed
|
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| Wednesday, Oct 22 |
Mixed Trading
|
25,868.65 +25.50 pts |
Selective buying in midcaps; IT and pharma sectors showed strength |
| Thursday, Oct 23 |
Volatile Gains
|
25,891.40 +22.80 pts |
Nifty briefly breached 26,100 but saw strong profit-booking; IT sector led gains |
| Friday, Oct 24 |
Profit Booking
|
25,795.15 -96.25 pts |
Decline driven by profit-taking in FMCG and banking stocks; metal sector outperformed |
| Metric | Value | Weekly Change |
|---|---|---|
| Nifty 50 Weekly Range | 25,718 - 26,100 | 382 points |
| Advance-Decline Ratio | 28:22 | Positive bias |
| India VIX | 11.73 | +3.85% |
| FII Activity (Net) | ₹1,245 Cr | Buyers |
| DII Activity (Net) | ₹892 Cr | Buyers |
| Support Levels | Resistance Levels | Outlook |
|---|---|---|
| 25,750 - 25,800 (Immediate Support) | 25,950 - 26,000 (Immediate Resistance) | Neutral to Bullish Range-bound movement expected with positive bias on dips |
| 25,600 - 25,650 (Strong Support) | 26,100 - 26,150 (Major Hurdle) | |
| 25,450 - 25,500 (Critical Support) | 26,300 - 26,400 (Upper Targets) | |
| 25,200 - 25,300 (Strong Demand Zone) | 26,500 - 26,600 (Breakout Targets) |
Most analysts maintain a "buy-on-dips" stance as long as Nifty holds above the 25,600 level. The broader trend remains positive despite the current consolidation phase. Stock-specific action is expected to continue with focus on Q2 earnings and global cues.
Persistent profit booking in heavyweights after the recent rally, coupled with declines in FMCG majors post-earnings, weighed on sentiment. Additionally, volatility in global markets and uncertainty surrounding upcoming economic data further dampened risk appetite. Rising crude prices and currency fluctuations remain key monitorables.
Overall Market Tone: The short-term trend remains positive despite the weekly consolidation. Most analysts recommend a "buy-on-dips" strategy with strict stop losses. The broader outlook remains constructive as long as Nifty holds above the 25,600 support level. Sector rotation is expected to continue with focus on earnings delivery.
Nifty 50 Weekly Outlook: October 2>
This article is for educational purposes only and does not constitute investment advice. The market data and analysis mentioned are based on technical analysis and market observations. Always verify current market conditions from official sources before investing. Stock market investments carry risks including liquidity risk, volatility, and capital loss risk. Always do your own research and consider consulting with a qualified financial advisor before making investment decisions. Past performance is not indicative of future results.