WEEKLY MARKET OUTLOOK – APPROACHING KEY BREAKOUT ZONENifty 50 IndexNSE:NIFTYssudhirsharma11NIFTY 50 – TESTING CRUCIAL RESISTANCE Nifty closed at 24,353, gaining ~300 points from the previous week. Weekly High: 24,400 | Weekly Low: 23,555 As discussed earlier, Nifty remained within the 24,800–23,400 range and has now closed near the upper end of the range, indicating underlying strength. MARKET REGIME Short-term: Upward momentum within range Medium-term: Transition phase (not fully bullish yet) 👉 Weekly & monthly timeframes are yet to confirm a full bullish shift NIFTY – LEVEL MAP Key Resistance 👉 24,400 Sustaining above → opens upside toward: 24,740 → 24,850 → 25,000 Key Supports 👉 24,150 / 23,950 Losing these levels → short-term retracement likely Expected Range (Next Week) 👉 25,000 – 23,750 STRUCTURAL VIEW Markets are showing strength, but confirmation is still pending. 👉 A controlled dip or consolidation (possibly around 2nd week of May) could help: Reset momentum Allow missed participants to enter This would make the next leg of rally more sustainable. SECTORAL FOCUS 👉 Banking, PSU, Power & Energy sectors likely to remain in focus and may outperform in the near term. BANK NIFTY – MOMENTUM WITH CAUTION Bank Nifty closed at 56,565, up ~650 points. While momentum remains strong: 👉 A short-term retracement is still pending Expected Range: 👉 57,800 – 55,150 Ideally, a mild red candle or consolidation on weekly timeframe would strengthen the structure before the next upmove. S&P 500 – BREAKOUT CONFIRMED S&P 500 closed at 7,126, gaining ~300 points. After multiple failed attempts since Dec’25: 👉 The index has finally broken and sustained above 6,954 Upside Levels: 7,194 7,292 7,433 (important level) Pullback Zone: 👉 7,100 – 7,050 Can act as a healthy retracement zone for fresh entries FINAL VIEW Nifty: Near breakout zone Bank Nifty: Strong but needs cooling-off S&P 500: Breakout confirmed Structure: Improving but not fully bullish yet 👉 Expect range-bound to bullish movement with intermittent pullbacks This is not a market to chase blindly — 👉 It is a market to buy dips within structure CLOSING INSIGHT Strong markets often move in phases, not straight lines. A pause or pullback here would be healthy, not bearish.