Stock Market Technical Analysis | 13th to 17th Apr 2026 Weekly Wrap

Markets moved in a tight range with mild gains, while broader markets continued to outperform—hinting at underlying strength despite index-level consolidation.

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• Mr. Ketan Kaushik - Derivative Analyst

Equity

• Benchmark Index traded volatile in the previous week before closing with 1.26% gain at 24354 level. Banking Index lagged the benchmark index as it closed with 1.17% gain at 56566 level.
• Among the Nifty constituents, ADANIPORTS and ADANIENT outperformed the benchmark index as they closed with 6.65% and 6.30% gains while EICHERMOT and MARUTI underperformed as they closed with 3.16% and 1.87% cut respectively. Among the Bank Nifty constituents YESBANK outperformed the benchmark index as it closed with 5.82% gain while HDFCBANK underperformed the benchmark index as it closed with 1.28% cut.
• Among sectors, NIFTYDEFENCE index outperformed the benchmark index during the previous week as it closed with 6.20% gain while NIFTYAUTO index underperformed as it closed with 0.77% cut. Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 3.55% and 4.31% gains respectively.
• Volatility index (India VIX) closed with 8.70% cut at 17.21 level.
• Both, FII and DII were net seller as they sold stocks worth Rs 251 Cr and 6,286 Cr respectively during the previous week in the cash segment
• Globally, equity markets traded with positive bias as both US market (DJIA) and European market (STOXX 600) closed with 3.19% and 1.91% gains respectively.

Derivatives

• Derivatives data for Nifty suggest max OI addition at 26500 call and 24000 put with max OI at 25000 call and 23000 put side (21th Apr expiry). Nifty cumulative PCR closed at 1.09 for Apr 17.
• Derivatives data for Bank-nifty suggest max OI addition at 59500 call and 56500 put with max OI at 60000 call and 54000 put side (28th Apr expiry).
• Bank-nifty cumulative PCR closed at 0.93 for Apr 17.

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Performance:

Indices

Source: NSE

Sector Gainers/Losers

Source: NSE

FII / DII ACTIVITY (WEEKLY)

Source: NSE

SUPPORT/RESISTANCE LEVEL FOR UPCOMING WEEK

Source: NSE

DAILY EXPONENTIAL MOVING AVERAGE

Source: NSE

TECHNICAL OUTLOOK

NIFTY (WEEKLY)

• Benchmark index traded volatile in the previous week and closed with bullish candlestick formation on the weekly chart
• Benchmark index is likely to trade volatile in the coming week
• Benchmark Index has support at 23,700–23,500 level and resistance at 25,000–25,200 level

BANKNIFTY (WEEKLY)

• Banking index lagged the benchmark and closed with bullish candlestick formation on the weekly chart
• Banking index is likely to trade in line with the Benchmark index in the coming week
• Banking index has support at 55,000-54,500 and resistance at 58,200 -58,700 level

FINNIFTY (WEEKLY)

• FINNIFTY index performed in line the banking index and closed with bullish candlestick formation on the weekly chart
• FINNIFTY is likely to trade in line with the banking index in the coming week
• FINNIFTY has support at 25,800-25,500 level and resistance at 27,300-27,500 level.

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Market FAQs – Weekly Summary

What is the current trend of Nifty?

Nifty is trading with a volatile to mildly bullish bias, supported by broader market strength despite index consolidation.

Why is Bank Nifty underperforming?

Bank Nifty is lagging due to selective weakness in heavyweight stocks like HDFC Bank, despite gains in stocks like YES Bank.

What does the fall in India VIX indicate?

A decline in India VIX signals reduced market uncertainty and improved investor sentiment, often supporting upward bias.

Which sectors outperformed last week?

The Nifty Defence sector led gains, while auto sector underperformed the broader market.

How did midcap and smallcap indices perform?

Midcap and smallcap indices outperformed Nifty, indicating strong participation beyond large-cap stocks.

What does derivatives data suggest for Nifty?

Open interest data indicates strong support at 24000 and resistance near 26500, defining the trading range.

What is the significance of PCR at 1.09?

A PCR above 1 suggests a bullish sentiment, with more put writing indicating support at lower levels.

Why are FIIs and DIIs both selling?

Both may be booking profits or reallocating capital amid global cues, leading to temporary selling pressure.

How are global markets impacting Indian markets?

Positive trends in US and European markets are providing supportive cues to domestic equities.

What should traders watch in the coming week?

Traders should monitor key resistance levels, sector rotation, and global cues for directional clarity.

Before You Trade, Strengthen Your Foundations with These Guides

• For a stronger understanding of indicators such as RSI, VWAP, and trendlines, check our 👉 Technical Analysis Fundamentals section.
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