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

Indian equity markets extended their gains for another week, supported by strength in IT stocks and banking despite continued FII selling. Here's a data-driven technical and derivatives-based outlook for Nifty, Bank Nifty, sectoral indices, institutional flows, and key levels to watch for the coming week.

Expert recommendation by:

• Mr. Ketan Kaushik - Derivative Analyst

Equity

• Benchmark Index traded with positive bias in the previous week before closing with 0.53% gain at 24334 level. Banking Index outperformed the benchmark index as it closed with 0.82% gain at 58521 level.
• Among the Nifty constituents, TCS and TECHM outperformed the benchmark index as they closed with 9.67% and 8.12% gains while LT and BAJAJFINSV underperformed as they closed with 3.33% and 3.24% cut respectively. Among the Bank Nifty constituents FEDERALBNK outperformed the benchmark index as it closed with 5.81% gain while AUBANK underperformed the benchmark index as it closed with 3.44% cut.
• Among sectors, NIFTYIT index outperformed the benchmark index during the previous week as it closed with 4.34% gain while NIFTYREALTY index underperformed as it closed with 2.12% cut. Broader market underperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 0.97% and 0.62% cut respectively.
• Volatility index (India VIX) closed with 7.33% gain at 13.15 level.
• FII were net sellers as they sold stocks worth Rs 9,120 Cr while DII were net buyers as they bought stocks worth Rs 9,809 Cr during the previous week in the cash segment.
• Globally, equity markets traded mixed as US market (DJIA) closed with 0.93% cut while European market (STOXX 600) closed with 0.07% gain.

Derivatives

• Derivatives data for Nifty suggest max OI addition at 24700 call and 24200 put side with max OI at 25000 call and 23000 put side (21st Jul expiry). Nifty cumulative PCR closed at 1.42 for Jul 17.
• Derivatives data for Bank-nifty suggest max OI addition at 59500 call and 58000 put side with max OI at 59000 call and 58000 put side (28th Jul expiry). Bank-nifty cumulative PCR closed at 1.05 for Jul 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 with positive bias in the previous week before closing with bullish candlestick formation on the weekly chart
• Benchmark index is likely to trade volatile in the coming week
• Benchmark Index has support at 23,900–23,600 level and resistance at 24,800–25,100 level

BANKNIFTY (WEEKLY)

• Banking index outperformed the benchmark and closed with bullish candlestick formation on the weekly chart
• Banking index is likely to perform in line the Benchmark index in the coming week
• Banking index has support at 57,300-56,800 and resistance at 59,800 -60,300 level

FINNIFTY (WEEKLY)

• FINNIFTY index lagged 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 26,400-26,100 level and resistance at 27,400-27,700 level.

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Market FAQs – Weekly Summary

1. What was the overall trend of the Indian stock market this week?

Nifty 50 closed 0.53% higher at 24,334, while Bank Nifty outperformed with a 0.82% weekly gain, reflecting continued strength in banking despite mixed global cues.

2. Which sectors performed the best during the week?

Nifty IT emerged as the top-performing sector with a 4.34% weekly gain, supported by strong moves in TCS and Tech Mahindra.

3. Which sectors underperformed?

Nifty Realty was the weakest major sector, declining 2.12% during the week, while broader market indices also underperformed the benchmark.

4. What does the current FII and DII activity indicate?

Foreign Institutional Investors (FIIs) remained net sellers, whereas Domestic Institutional Investors (DIIs) continued to provide buying support, helping offset foreign selling pressure.

5. What are the important Nifty support and resistance levels?

Options positioning indicates support around 24,200, while resistance is seen near 24,700 and 25,000. These are technical reference levels and not price predictions.

6. What does the Nifty PCR of 1.42 suggest?

A Put-Call Ratio (PCR) above 1 generally reflects stronger put writing than call writing. However, PCR should always be interpreted along with price action, volatility and open interest data.

7. Why did India VIX increase despite market gains?

India VIX rose 7.33%, suggesting traders are expecting higher near-term volatility due to earnings season, global developments and derivatives expiry.

8. Which stocks outperformed the Nifty this week?

TCS and Tech Mahindra were among the strongest Nifty performers, while Federal Bank outperformed within the Bank Nifty index.

9. What factors could influence the market in the coming week?

Key drivers include quarterly earnings announcements, institutional fund flows, derivatives positioning, global market trends, macroeconomic data and India VIX movements.

10. Should investors make decisions based only on weekly technical analysis?

No. Weekly market analysis is intended for educational and informational purposes. Investors should evaluate their financial objectives, risk profile and conduct independent research or consult a SEBI-registered investment adviser before making investment decisions.

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