Sensex likely to trade with positive bias above 82,700; Nifty eyes 25,900

Stock Market Weekly Outlook: The BSE Sensex faces a key hurdle around 84,240 levels; Nifty seems on course to test 25,900 levels, suggest technical charts.

Last week, equity benchmark indices retreated a wee bit after registering fresh calendar year highs amid uncertainty ahead of the earlier set US July 9 tariff deadline. Over the weekend, the US has now extended the 90-day pause on reciprocal tariffs to August 1, 2025.  The BSE Sensex hit a high at 84,099, and eventually settled 0.7 per cent or 626 points lower at 83,433. Similarly, the NSE Nifty 50 index touched a high of 25,669, but settled with a weekly loss of 0.7 per cent at 25,461. LIVE Market Updates  Despite the intra-week dip from the recent highs, both the BSE Sensex and the NSE Nifty continue to be favourably placed on the technical charts. Here are the key support and resistance levels to track in the week ahead. 

BSE Sensex

Last close: 83,433  Likely Bias: Positive  Support: 83,175; 83,020; 82,900; 82,725  Resistance: 83,690; 83,850; 83,975; 84,100  The near-term bias for the BSE Sensex is likely to remain favourable as long as the BSE Sensex sustains above 82,725 levels. The index seems on course to test the yearly (R-1) resistance, which stands at 84,240 levels. Breakout and sustained trade above the same will open the doors for a likely rally towards 88,000-mark in the coming months.  In the week ahead, the BSE Sensex may face interim resistance around 83,690, 83,850, 83,975 and 84,100 levels. On the other hand, the BSE benchmark index may seek support around 83,175, 83,020 and 82,900 levels.  ALSO READ | How to trade HDFC group stocks: Buy, Sell or Hold? Here's what charts say 

NSE Nifty

Last close: 25,461  Likely Bias: Positive  Support: 25,250; 25,165; 24,865  Resistance: 25,650; 25,850  The NSE Nifty 50 index continues to be favourably placed on the technical charts across time-frames. The short-term bias for the NSE benchmark index is likely to remain positive as long as the index quotes above 25,165 levels; while the overall bias will remain favourable as long as the Nifty holds above 24,865 levels. Near support for the index can be anticipated around 25,250 levels.  On the upside, the Nifty seems on course to target its key hurdle around 25,900 levels. Intermediate resistance for the index can be 25,650 and 25,850 levels.