06-07-2025 | Weekly BNF, NF TA | Breakout Above Consolidation range | Inside Week Candle Near Previous Week High | Indian Market Update

Index Weekly Update 06-07-2025

Lets analyse Bank Nifty & Nifty 50 index price action for next week.

Bank Nifty Future

1) Weekly TF:

• After strong bullish candle, BNF formed inside week candle near to top range of previous week.
• BNF took a pause in upmove from HH-HL formation near new ATH.
• Last week BNF closed above 50% range of previous bullish week candle shows strength.
• BNF have 50% Fibo level from recent swing low at 56600 which is good support for next week.
• BNF has formed resistance near previous week High, there is high chance it will be tested again.
• Now BNF has resistance around 58,280 & support at 56,600 & 55,750.

2) Daily TF:

Indicators: RSI, MACD, VOL (as per order in chart)

• BNF made a new ATH on monday but failed to close above Friday's high.
• After consolidating near ATH for 2 days, BNF started to fall and retrace back lower.
• By the end of week, BNF have retraced 38% of the previous week's range and closed above it.
• Last week, BNF formed LH-LL formation all 5 days, but friday closed above Thurday's low.
• All the above Price Action denotes sideways movement in price movement.
• Indicator, RSI is inside a range as marked above and sustaining above 50 mark. (Bullish)
• MACD started to grow negative and tested zero mark (Bearish).
• Now BNF has resistance around 57,400 & 57,850 and support at 56,600 & 55,950.

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Nifty Future

1) Weekly TF:

• Like BNF, NF also consolidated near top range of previous week bullish candle.
• NF gave a BO above 6 weeks of consolidation and sustained this week above the range.
• NF faced resistance from Fibo resistance level of 25,775 but closed stronger.
• Untill NF closes above 50% of previous week's bullish candle, we shall remain bullish.
• We can expect sideway move between previous consolidation high and this week's high.
• NF has resistance around 25,770-930 and support at 25,120-300 (Consolidation high).

2) Daily TF:

Indicators: RSI, MACD, VOL (as per order in chart)

• NF tested above previous week High, but gets rejected and formed Bearish engulfing on Monday.
• This shows, price above previous week High is not attracting buyers (No Demand)
• From Monday, NF started to form LH-LL structure, which again confirms there is no demand.
• But NF managed to close this week above consolidation high, which shows long term strength.
• RSI: Likewise BNF, it took a dip but still holding above 50 within two TL. (Mild Bullish)
• MACD: started to grow negative but still above zero, which shows strength still exits in trend . (Mild bullish)
• NF has support at 25,120-300 and resistance around 25,770.

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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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