Overview
- Benchmark indices ended a four‑week winning run last week, with the Nifty at 25,722 and the Sensex at 83,939 after modest declines.
- Trading opened softer on Monday with the Nifty near 25,650–25,700 and the Sensex around 83,700–83,900 as IT and private banking shares weighed while PSU banks showed relative strength.
- Domestic institutions remained net buyers in recent weeks while foreign investors turned sellers, reinforcing the range‑bound tone.
- Charts show a weekly shooting‑star and a daily double‑top on the Nifty, with key support flagged near 25,500–25,300 and resistance around 26,100; Bank Nifty eased after a record 58,578 on profit‑taking.
- Near‑term direction hinges on final HSBC/S&P PMI prints, heavyweight earnings, and a busy IPO calendar estimated above Rs 70,000 crore that could reallocate liquidity.