Near-term bias for Nifty turns negative, can dip 3% from here; hint charts

Technical chart shows that the Nifty has dipped below its short-term moving averages, and broken below the trend line support.

The BSE Sensex and the NSE Nifty have now ended with losses for the last three straight weeks. The benchmark indices have shed around 2.6 per cent at 81,758 and 24,968 levels, respectively. In the process, the Sensex and the Nifty have dipped below the short-term moving averages on the daily scale.  The NSE Nifty, in particular, is seen quoting below its 20-Day Moving Average (20-DMA) and the 50-DMA. Technical chart shows that the near-term bias for the index has turned negative with it falling below the super trend line support for the first-time since April 15, 2025.  READ STOCK MARKET UPDATES TODAY LIVE  Here's the weekly outlook on the benchmark indices 

NSE Nifty

Last close: 24,968  Downside Target: 24,200  Downside Risk: 3%  Support: 24,785; 24,500; 24,380  Resistance: 25,318; 25,500  The near-term bias for the NSE Nifty is likely to remain tepid as long as the index quotes below the 20-DMA, which stands at 25,318 levels; while the overall bias shall remain negative as long as the index remains below 25,500 levels, shows the daily chart. 

 

  On the downside, the Nifty is seen seeking support around 24,900 levels, its lower-end of the Bollinger Bands. Break and sustained trade below the same can trigger an accelerated fall towards 24,200 levels.  Intermediate support for the NSE benchmark index can be anticipated around 24,785, 24,500 and 24,380 levels. 

BSE Sensex

Last close: 81,758  Downside Target: 78,765  Downside Risk: 3.7%  Support: 81,975; 81,815; 81,650  Resistance: 83,025; 83,185; 83,350  The BSE Sensex is now seen quoting near its key monthly support, which stands at 81,300 levels. Even as the Nifty has signaled a negative bias, the sentiment on the Sensex remains cautiously optimistic as long as the index sustains above 81,300 levels.  In case, the support is violated, the Sensex may then witness a slide towards 78,765 levels, with interim support pegged at 80,600 levels. On the upside, 83,600 becomes a crucial hurdle for the index.  In the week ahead, the Sensex is likely to seek support around 81,300 - 81,170 and 81,0350 levels. On the upside, the BSE benchmark index may face resistance around 82,200 - 82,345 - 82,485 levels.