Benchmark stock market indices ended Friday’s session on a strong note, lifted by solid gains in FMCG heavyweights and a rebound in Reliance Industries Limited (RIL).
The S&P BSE Sensex rose 484.53 points to close at 83,952.19, while the NSE Nifty50 gained 124.55 points to settle at 25,709.85. Most broader market indices also finished higher, even as volatility persisted through the session.
Ponmudi R, CEO of Enrich Money, a Sebi-registered online trading and wealth-tech firm, said domestic sentiment stayed upbeat despite a mixed global backdrop. “The Indian markets ended the week on a strong footing, with both the Nifty50 and Bank Nifty surging past their key psychological resistance levels amid sustained institutional participation and broad-based buying interest. Strength in financials, autos, and FMCG stocks supported the rally,” he said.
From a technical standpoint, Nifty50 has broken above its horizontal resistance near 25,700, confirming the continuation of its uptrend. The index hit a new 52-week high at 25,781.50. Analysts see the next resistance between 25,800–26,000, and a decisive breakout above this zone could open the next leg of the rally toward 26,300—setting up new lifetime highs.
On the downside, immediate support lies around 25,600–25,450, aligning with the rising trendline and short-term moving averages.
Open interest (OI) data in Nifty options reinforces the bullish outlook. Total Put OI stands at 17.2 crore compared to Call OI at 21.3 crore, indicating mild profit-booking at higher levels.
Put writers are active at 25,600 and 25,500, creating a strong support base, while Call writing at 25,800–26,000 reflects resistance in that range. The Put-Call Ratio (PCR) of 0.81 signals balanced sentiment, suggesting a brief consolidation phase before the next upward move.
The Bank Nifty outperformed the broader market, registering a clear breakout and hitting a new lifetime high of 57,830—comfortably above its previous peak of 57,650.
The index now faces resistance between 58,000–58,300, where some profit-taking could occur in the near term. Sustained movement above 58,300 may push the index toward 59,000, while support is seen around 57,500–57,250. A dip below 56,500, however, could lead to mild consolidation without changing the broader bullish trend.
Rupak De, Senior Technical Analyst at LKP Securities, noted that the sentiment around Nifty remains distinctly positive. “The index moved above its four-month consolidation range.
On Friday, large-cap stocks clearly outperformed mid- and small-caps—a classic bull market signal. In the early stages of such rallies, large caps typically lead before the baton passes to mid- and small-cap companies. Technically, Nifty looks strong for a decent upside from here, and a ‘buy on dips’ strategy could work well. On the lower end, meaningful support is at 25,500, while resistance is around 25,850–26,000,” he said.
Overall, experts suggest that India’s equity markets are displaying firm momentum ahead of the festive week, supported by robust institutional inflows and improving domestic sentiment. However, traders should remain cautious near resistance zones as the markets approach new record highs.
