Will Sensex, Nifty rise or fall this week? Key levels to track

Weekly market outlook, May 12 - 16, 2025: Key momentum oscillators on the daily and weekly technical charts indicate a mixed outlook for the BSE Sensex and the NSE Nifty in the near-term.

Equity benchmark indices snapped their three-week winning streak last week amid fears of a large-scale India-Pakistan war. The BSE Sensex and NSE Nifty declined up to 1.5 per cent each and ended at 79,454 and 24,008, respectively.  This week, the markets are likely to start trade on an upbeat note following the India-Pak truce. That apart, progress on the US-China trade deal and corporate earnings will guide the market sentiment. However, the key question remains will the Sensex, Nifty resume the weekly rally?  For the week ahead, here are the key support and resistance levels to watch out for on the BSE Sensex and the Nifty 50 index.  Read Stock Market Updates today LIVE

BSE Sensex

  Last Close: 79,454  Support: 78,960; 78,660; 78,400; 78,170; 78,070  Resistance: 79,950; 80,240; 80,500; 80,740  The BSE Sensex is expected to bounce back above the 80,000-mark in opening trades on Monday. However, sustenance above 80,240 levels holds the key for the week ahead. As long as the BSE benchmark manages to sustain above this key level, the Sensex may trade with a favourable bias.  On the upside, the key near-term target for the Sensex remains intact around the 81,900 - 82,000 levels. This week, the BSE Sensex may face interim resistance around 79,950, 80,240, 80,500 and 80,740 levels.  On the other hand, in case, Sensex fails to sustain above 80,240. The BSE index may drift back towards last week low around 78,960 levels. Below which, a dip 78,660 and 78,400 levels seems likely. The key weekly support on the downside stands at 78,170 - 78,070 levels.   

NSE Nifty

  Last Close: 24,008  Support: 24,050; 23,909; 23,686  Resistance: 24,330; 24,450; 24,590  Amid Friday's sharp fall, the NSE Nifty closed below its 200-Day Moving Average (200-DMA), which stands at 24,050, for the first time since April 21. The index, however, seems to have found support around its 20-DMA, which stands at 23,909 levels.  Key momentum oscillators on the daily and weekly chart indicate a mixed picture; with the latter in favour of positive bias. As such, the Nifty may attempt to resume its weekly uptrend soon.  Technically, the short-term bias for the Nifty is likely to remain positive as long as the index sustains above 23,686 levels. On the upside, the recent highs around 24,450 - 24,590 may act as key hurdles. Near resistance can be anticipated around 24,330 levels. The Nifty will need to close above its recent high of 24,590, to resume its journey towards 25,900 levels.