Trading Plan: Will Nifty 50, Bank Nifty break above Friday’s high with bulls in charge?

Nifty Trading Plan for November 17

The Nifty 50 and Bank Nifty recorded healthy gains last week (ended November 14), closing above the previous week’s high with positive technical and momentum indicators. If the Nifty 50 reclaims and sustains above Friday’s high (a tad above 26,000), 26,100 is the immediate resistance to watch, followed by 26,300 as the crucial hurdle. However, the immediate support zone is 25,800–25,700, followed by 25,450 as the crucial support. Meanwhile, the Bank Nifty needs to decisively take out 58,600 (near Friday’s high) for a move toward 59,000 or uncharted territory, while 58,100–58,000 is the immediate key support area for the upcoming sessions, experts said.

On November 14, the Nifty 50 advanced 31 points to 25,910, while the Bank Nifty soared 136 points to 58,518. Market breadth continued to be dominated by bears, with 1,590 shares witnessing selling pressure against 1,260 shares that gained on the NSE.

Nifty Outlook and Strategy

Osho Krishan, Chief Manager - Technical & Derivative Research at Angel One

The resilience exhibited by the bulls clearly reflects strong market sentiment, with participation observed across various sectors. Additionally, the 50% Fibonacci retracement level has demonstrated significant support, as the benchmark index has decisively reversed direction from this zone.

From a technical analysis perspective, the price range of 25,750–25,700 is expected to provide significant cushioning against potential market fluctuations in the near future. This support range is reinforced by crucial levels between 25,600 and 25,500, which are regarded as essential for maintaining upward momentum.

On the higher end, the 26,000–26,100 range presents a formidable challenge for market participants. Should the price achieve a sustained breakthrough above this critical threshold, it could trigger a new phase of market rallying, paving the way for the possibility of reaching lifetime highs and potentially exceeding those levels in the coming period.

Key Resistance: 26,000, 26,100

Key Support: 25,750, 25,600

Strategy: Buy Nifty Futures on dips to 25,700, with a stop-loss of 25,600, and book profits near 26,100.

Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities

The Nifty recorded a weekly gain of 418 points and formed a strong bullish candle on the weekly chart, establishing a higher high–low structure and closing above the prior week’s high, which reinforces a positive bias.

The index experienced a pullback toward the breakout medium-term trendline that has been in place since mid-October 2025 and rebounded sharply. However, strong resistance remains near the 26,000 level. A decisive close above the 26,000 to 26,300 range would open the door for further gains, while 25,450 is an important support level.

If Nifty moves decisively above 26,000, it may generate buying interest toward 26,300 to 26,500. Conversely, a drop below 25,700 could trigger selling pressure, pushing the index toward the 25,450 to 25,200 range. For the upcoming week, we expect Nifty to trade within the range of 26,500 to 25,200 while maintaining a positive bias. Additionally, the weekly RSI remains above its reference line, indicating this positive bias.

Key Resistance: 26,000, 26250

Key Support: 25,700,, 25,550

Strategy: Buy Nifty Futures around 25,800 with a stop-loss of 25,700, targeting 26,050–26,150.

Anshul Jain, Head of Research at Lakshmishree Investments

As we’ve been highlighting, Nifty bears needed strong evidence, and they clearly haven’t got it. Bank Nifty isn’t aligning with the bearish breakdown attempts on Nifty, and that divergence has now played out — bears have failed. Last week’s strong bullish candle confirms that sellers are trapped and bulls have regained control.

On the volume profile, last month’s Point of Control at 25,910 is acting as a key resistance. A sustained move above 25,910 can unleash fresh momentum, pushing the index toward a new swing high above 26,014, which also stands as the next resistance zone.

Immediate support sits at 25,780, followed by 25,700. Momentum indicators across daily, weekly, and 75-minute charts remain bullishly aligned, adding further confirmation to the positive structure.

The price action, momentum alignment, and failed bearish attempt all point to a bullish continuation in the coming sessions.

Key Resistance: 26,104, 26,250

Key Support: 25,780, 25,700

Strategy: Buy Nifty Futures on a sustained move above 25,910 for a 26,104 target with an immediate stop-loss below 25,850.

Bank Nifty - Outlook and Positioning

Osho Krishan, Chief Manager - Technical & Derivative Research at Angel One

Bank Nifty had an encouraging week of trade, as the index finally shrugged off the prior three weeks of range-bound movement. The primary uptrend for the heavyweight index appears to have firmly resumed, with Bank Nifty registering its highest weekly close ever.

The strength of the ongoing trend is evident from last week’s successful retest of prior swing highs, followed by a convincing breakout above the recent small symmetrical triangle formed around the all-time-high zone. This breakout, coupled with a clean retest of the 20-DEMA, has further reinforced the underlying bullish momentum.

Going forward, we expect prices to continue their upward trajectory, particularly once the 58,600 level is taken out decisively. Until then, adopting a strategy to buy on dips toward key supports remains attractive. Immediate support lies in the 57,800–57,750 band, aligned with the 20-DEMA, followed by stronger support at 57,150. On the flip side, as the index hovers near all-time highs in uncharted territory, identifying resistance becomes challenging, but the 58,800 level, aligning with the 38.2% Fibonacci extension, can act as an immediate hurdle. Overall, the outlook remains strongly bullish.

Key Resistance: 58,800, 59,200

Key Support: 57,800, 57,750

Strategy: Buy Bank Nifty Futures on dips to 58,200–58,000 for a potential target of 58,800–59,200, with a stop-loss of 57,800.

Rajesh Palviya, Senior Vice President Research (Head Technical Derivatives) at Axis Securities

Bank Nifty closed with a weekly gain of 641 points and formed a bullish candle on the weekly chart, indicating a positive bias.

After breaking above the medium-term horizontal resistance level at 57,600, the index has entered a consolidation phase within the 58,600 to 57,600 range. A decisive breakout above this band would likely resume and extend the upward movement that followed the breakout. A sustained move above 58,600 could encourage buying toward 59,000 to 59,500, while a decline below 58,000 might invite selling pressure toward 57,500 to 57,200.

For the week ahead, we expect Bank Nifty to oscillate within the 59,500 to 57,200 range, maintaining a positive bias. The daily and weekly RSI indicators remain firmly above the 50 mark, which reinforces the underlying bullish momentum.

Key Resistance: 58,850, 59000

Key Support: 58,350, 58,100

Strategy: Buy Bank Nifty Futures around 58,550 with a stop-loss of 58,350, targeting 58,800–59,000.

Anshul Jain, Head of Research at Lakshmishree Investments

Bank Nifty delivered a powerful technical sequence last week as it successfully tested the bullish Fair Value Gap (FVG) and then followed up with a strong continuation candle on the weekly chart. Last week’s closing was extremely bullish, clearly signaling that demand is active and buyers are in control.

Adding to this strength, the index has also witnessed four consecutive weeks of tight closes, which, combined with the bullish FVG test, forms a high-conviction breakout structure. This alignment unmistakably indicates that bulls are dominating the trend and momentum is firmly on their side. A sustained move above 58,600 is likely to trigger an immediate upside toward 59,200, and once that level is surpassed, the psychological 60,000 mark becomes a highly probable target. On the downside, immediate support is placed at 58,000, and below that, 57,700 will act as the next cushion for the index.

Key Resistance: 59,200, 60,000

Key Support: 58,000, 57,700

Strategy: Buy Bank Nifty Futures on a breakout above 58,600 for a 59,200–60,000 target with a stop-loss below 58,300.

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