Mumbai
The Indian stock market is expected to remain in a sideways or consolidating phase this week, as equity indices show mild selling pressure at higher levels. Analysts say this trend is visible in the weekly charts, reflecting cautious investor sentiment amid ongoing global and domestic factors.
The Nifty index ended last week at 25,492.30, down 0.89% from the previous week, mainly due to continuous selling by foreign institutional investors (FIIs). Despite a strong domestic economy, weak global cues and fading hopes of a U.S. Federal Reserve rate cut kept markets under pressure. Sectoral declines in IT and metal stocks added to the weakness.
Analysts observed a bearish candle pattern on the charts, suggesting selling pressure at higher points. “The Nifty’s price action indicates consolidation, with resistance near 25,600–25,700 and support around 25,300–25,400,” said Hardik Matalia of Choice Broking. The India VIX, a volatility indicator, rose 3.33% to 12.55, signaling a slight increase in market uncertainty.
The Bank Nifty index closed last week at 57,876.80, up 0.17%, showing limited movement and no clear direction. Analysts believe the index remains stable but indecisive, suggesting a continued consolidation phase until a breakout occurs.
Investors will focus on India’s CPI and WPI inflation data this week, which could guide market sentiment and influence future policy decisions. Until then, experts expect the broader indices to trade within a defined range, awaiting stronger triggers for directional movement.
