Weekly Market Outlook: Nifty, BankNifty & S&P 500Nifty 50 IndexNSE:NIFTYssudhirsharma11Nifty (25492) closed ~230 points lower this week, trading between 25803–25318 and once again respecting the broad 26150–25250 range. Price formed a hammer candle near key support at 25300, signaling potential seller exhaustion — however, confirmation is required before expecting a trend reversal. Bullish Confirmation Setup Sustaining above 25600 → opens move toward 26000 Break above hammer high with volume = stronger confirmation Downside / Risk Scenario Structure remains constructive above 25000 Failure below 25000 could extend correction toward 24650–24580 zone As highlighted earlier, November tends to be a corrective month, and a retest of 25150–25200 would be healthy. If Nifty tests and holds this zone, I plan to gradually deploy capital into NiftyBees, MidcapBees & Smallcap ETFs, preparing for the next leg toward new ATHs. BankNifty BankNifty closed at 57876, holding firm above the crucial 57600 support. Bullish Above 57900: Targets → 58249 / 58469 / 58577 / 58900 Risk Below 57450 (2-day close): Possible decline toward 56800 BankNifty continues to act as a trend anchor for Nifty, so levels here remain important. S&P 500 S&P500 ended at 6728, down ~110 points but still forming a potential bullish W-pattern on the weekly chart. Bullish Continuation: > 6780 daily close or > 6920 breakout → Targets: 6959 (Fib) / 7122 Risk Trigger: Monthly low 6550 is key structural support Break below could lead to 6225 / 6013 (Watch Fed tone, yields & VIX alongside price action) 🎯 Key Takeaways Hammer at support — wait for confirmation above 25600 Buy-on-dip zone: 25150–25200 (gradual allocation, not aggressive) BankNifty strength above 57900 crucial for momentum S&P500 near breakout zone — global cues still supportive Next week may define whether bulls defend key supports or we get a deeper correction before the next leg up.