17-08-2025 | Weekly BNF, NF TA | Fall got arrested | Looks small support emerges at low | Pause in downtrend for sometime | Indian Market Update

Index Weekly Update 17-08-2025

Inside week shows resistance for recent fall, but need followthrough upmove for trend reversal. Lets analyse index price action for next week.

Bank Nifty Future

1) Weekly TF:

• BNF after 6 weeks of downtrend, formed inside candle near last week's low.
• Inside candle shows pause in downtrend and some sort of support is emerging.
• In weekly TF, BNF broke LL structure, but yet to confirm the HH strucutre to break downtrend.
• This week candle is a small inside candle and close is near 50% of previous week candle.
• We need to see good follow through on upside above previous week's high with strong close.
• Red Avwap from recent high will be initial resistance which coincide with previous week high.
• Now BNF has resistance around 56,000 & support at 54,650.

2) Daily TF:

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

• BNF started truncated week near previous week's low and moved higher.
• BNF took support from 29052025 low and previous low is not violated.
• It closed above AVWAP support from swing low made on 07-04-2025 at 55,350.
• Now AVWAP from recent swing high (24072025) at 55920 will act as nearby resistance.
• All the above Price Action denotes sentiment is turning to neutral.
• Indicator:
• RSI gave good bounce from last week low and faced resistance near falling TL from recent high and closed near 40. (Neutral)
• MACD: In sync with price, MACD moved towards zero mark but still closed negative (Bearish).
• Now BNF has resistance around 55,920 & 56,130 and support at 55,300 & 54,730.

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Nifty Future

1) Weekly TF:

• NF gave good bounce than BNF and closed inside previous week's wick near top of the candle.
• NF also formed inside candle to previous week which gave a pause to LH-LL structure.
• This week NF gave bullish candle with close near top of the candle which is above 50% of last week candle.
• If this low sustains and we get follow through, then we can assume there is less supply below previous swing support (May & June sideways low) and this can be a swing low for some time.
• If this week's low is broke, then we can expect to move towards 24,000.
• Still NF has resistance around 24,800 and support at 24,290. (No change from last week)

2) Daily TF:

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

• NF opened near previous weak low and moved higher in last week. (Previous week low is held)
• But it faced resistance near Red AVWAP from recent swing high at 24730 during 3 out of 4 days in last week.
• NF tested below horizontal support at 24570 and made low at 12052025 bullish candle's low and bounced up.
• NF held recent swing low and started to form HL structure but still withing a range will no meaningful range extention on upside.
• Indicators:
• RSI: RSI gave a good upmove and broke recent swing high and also broke above falling TL resistance (Bullish).
• MACD: MACD moved positive above zero mark even when price is at range. (Bullish).
• NF has support at 24,290 and resistance around 24,730 & 24,900.

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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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