From a technical perspective, the Nifty is currently hovering around key moving averages across various timeframes, suggesting the potential for further downside. The immediate support is placed at 23,800, and a decisive break below this level could extend the decline toward 23,200.

Sensex, Nifty, and Bank Nifty technical levels to watch

On the upside, any rebound is expected to encounter strong resistance in the 24,400–24,600 range. Meanwhile, the banking index is exhibiting relative weakness and may continue to underperform. It faces immediate support at 53,000, with a more robust support level near 52,400. Conversely, a sustained close above 55,000 could open the path for an upward move toward 56,000.

Nifty 50 ended the week in the red after three consecutive weeks of gains, closing slightly above the 24,000 mark as investors remained cautious amid escalating geopolitical tensions between India and Pakistan. Sentiment took a hit due to rising cross-border conflict concerns. Technically, key support is placed near 23,800, the previous horizontal breakout zone. A breach below this may invite further selling pressure toward 23,500, which aligns with the 21-week EMA. On the upside, resistance lies at 24,250, and a sustained move beyond this could push the index toward 24,500.

D-Street trading strategy for next week

Looking ahead, heightened geopolitical tensions have substantially increased market volatility, as evidenced by the spike in the India VIX. In this environment, investors are encouraged to adopt a stock-specific approach and avoid aggressive positioning until greater clarity emerges.

Employing a hedged strategy is advisable to mitigate near-term risks, while close attention to geopolitical developments will be critical in determining the market’s direction moving forward.

Disclaimer: The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts, consider individual risk tolerance, and conduct thorough research before making investment decisions, as market conditions can change rapidly, and individual circumstances may vary.