The analyst highlighted key breakout patterns across all four indices, with critical support levels still intact. His outlook suggests the broader market may be gearing up for its next leg higher.
The Nifty 50, Bank Nifty, Midcap 100, and Smallcap 100 are displaying bullish setups heading into next week, with breakout patterns and key support levels holding across all four indices.
Here is SEBI-registered analyst Rohit Mehta’s index-wise technical outlook for the upcoming week:
Nifty 50
For the Nifty 50, Mehta noted a cup and handle breakout with bullish continuation. He said the bias remains positive as long as the index holds above 24,850.
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A breakout above 25,622 may open further upside toward 26,000–26,278.
In the event of profit booking, he added that a retest of the 24,970–25,000 zone may be expected.
Nifty Bank
In Nifty Bank, Mehta highlighted a multiple cup and handle pattern and an ascending triangle breakout.
He said the momentum remains bullish and that a move above 57,300 could extend the rally toward 58,000–58,500.
He placed support at 55,800, with a broader cushion in the 53,800–53,400 range.
Nifty Midcap 100
Mehta said the Nifty Midcap 100 is in a cup-shaped recovery, nearing a breakout from previous highs.
He maintained a bullish bias, with upside targets at 60,925 and above 62,000 if sustained.
Support for trend continuation is pegged at 56,370.
Nifty Smallcap 100
For the Nifty Smallcap 100, Mehta pointed to a continuation pattern after a breakout.
Resistance levels are placed at 19,716 and over 20,300, while the support zone is between 17,770 and 18,000.
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