Index Weekly Update 15-06-2025
We have crossed half month with 2 weekly expiry completed, now lets analyse Bank Nifty & Nifty 50 index price action for next week.
Bank Nifty Future
1) Weekly TF:
- After 6 weeks of consolidation, BNF broke out of range, but last week came back inisde range.
- Last week BNF formed strong wide bearish candle which engulfed previous week BO candle.
- BNF failed to sustain above range high, which is also a new ATH.
- Last 4 week of HH-HL formation has been broken and closed below previous week low.
- BNF have covered 50% Fibo level of recent swing low to this week high, which is imp support.
- BNF is now near support zone from where BNF has moved up, as seen in wick of weekly candle.
- Now BNF has resistance around 56,250 & support at 54,370 & 54,650.
2) Daily TF:
Indicators: RSI, MACD, VOL (as per order in chart)
- After RBI meeting, BNF gave a bullish move which pushed it above the range and closed higher.
- But BNF failed to attract buyers at higher price, consolidated for 2 days and started to fall.
- By the end of week, BNF have retraced 50% of the range and closed near by it.
- From last week monday BNF is in LH-LL structure for the whole week and closed near low.
- All the above Price Action denotes weakness in price movement.
- Indicator, RSI broke the rising trendline drawn from MARCH 2025 low and moved below 50 mark & previous swing low. (Bearish)
- MACD roamed around zone during this consolidation and BO without any strength and now started to grow negative (Bearish).
- Now BNF has resistance around 56,190 & 56,450 and support at 55,370 & 54,950.
Nifty Future
1) Weekly TF:
- NF continued to form inside candle for 3 weeks, Last week tried to BO above range and failed.
- When a BO of range gets failed, then the next target move will be to the other side of the range.
- Last week NF covered the entire range and formed 4th inside weekly candle.
- We can expect a trending move, only when we break this range on either side.
- NF formed bearish candle and closed below previous week open, if we get follow thorugh to downside, then we may easily move towards 24050.
- NF has resistance around 25,150-350 and support at 24,450 (Bullish candle low & Green AVWAP).
2) Daily TF:
Indicators: RSI, MACD, VOL (as per order in chart)
- Like BNF, NF also gave a BO above the range but failed to hold higher levels and return back inside the range.
- After the BO, NF goes sideways for 3 days near the range high and started to fall to cover the entire range of consolidation.
- RSI: Likewise BNF, here also broke the rising trendline and went below previous swing low.
- MACD: was negative for long time and now started to show negative strength, (mild bearish).
- As i said in previous post, both RSI & MACD are -ve but only price was holding the range, now this week price took a fall and went in syinc with the indicators.
- NF is now at support of GREEN AVWAP 24600, next support is range low (bullish candle low) at 24500.
- GAP during last friday is immediate resistance and 25,000 is next resistance for NF.
Acronym
BNF: Bank Nifty Future.
NF: Nifty Future.
BO: Breakout.
BD: Breakdown.
HH-HL: Higher High, Higher Low
LH-LL: Lower High, Lower Low
TF: Time Frame.
LT: Long Term
ST: Short Term
ATH: All Time High.
PA: Price Action.
PDC: Previous Day Close
TL: Trend Line.
Keep Learning 🕮
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