The markets traded with a consolidating bias through the week and ended on a negative note. Nifty remained confined within the broader trading range, with intermittent attempts to move higher failing to generate meaningful follow-through.

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47%). comThe broader technical structure remains range-bound, with Nifty continuing to negotiate an important cluster of resistance immediately overhead.

The index has taken support on the rising trendline drawn from the April 2026 lows, keeping the underlying recovery structure intact for now. However, the 24,450–24,750 zone remains a formidable resistance area, as it houses a confluence of the 200-day, 50-week and 100-week moving averages.

This makes a sustained move above 24,750 important for the index to regain directional momentum and open room for a stronger extension on the upside. Until that happens, Nifty is likely to remain contained within its broader range.

On the downside, the 23,900–24,100 support cluster remains intact; any decisive violation of this zone would weaken the present structure and increase the possibility of renewed corrective pressure. The coming week is likely to see a quiet to modestly positive start, provided Nifty continues to defend the 24,100 area.

However, the index will need to move past the overhead resistance cluster before any meaningful directional strength can emerge. The immediate resistance levels are expected at 24,450 and 24,700, while supports are likely to come in at 24,100 and 23,900.

11, remaining almost exactly around its neutral 50 mark with no bullish or bearish divergence visible on the weekly chart. The weekly MACD continues to improve: the MACD line is above its signal line, while the histogram remains positive, indicating that underlying momentum has strengthened despite the absence of a price breakout.

Pattern analysis shows Nifty continuing to trade within a large consolidation structure, while the rising trendline from the April low provides an important dynamic support. The more immediate technical challenge comes from the dense moving-average resistance around 24,450–24,750.

This concentration of technical levels on either side suggests that a convincing move outside these boundaries will be required before a sustainable trend develops. Given this setup, aggressive directional exposure may not be warranted while Nifty remains trapped beneath the 24,450–24,750 resistance zone.