Stock Market Technical Analysis | 6th to 10th July 2026 Weekly Wrap

Indian equities witnessed a range-bound and volatile week as Nifty ended marginally lower despite strong domestic institutional participation. Rising India VIX, resilient banking stocks, and bullish derivatives positioning suggest traders are closely monitoring key support and resistance levels.

Expert recommendation by:

• Mr. Ketan Kaushik - Derivative Analyst

Equity

• Benchmark Index traded volatile in the previous week before closing with 0.26% cut at 24207 level. Banking Index outperformed the benchmark index as it closed with 0.19% gain at 58046 level.
• Among the Nifty constituents, SBILIFE and BAJAJ_AUTO outperformed the benchmark index as they closed with 4.15% and 3.79% gains while TRENT and DRREDDY underperformed as they closed with 13.11% and 9.45% cut respectively. Among the Bank Nifty constituents INDUSINDBK outperformed the benchmark index as it closed with 4.25% gain while KOTAKBANK underperformed the benchmark index as it closed with 4.83% cut.
• Among sectors, NIFTYREALTY index outperformed the benchmark index during the previous week as it closed with 5.37% gain while NIFTYMEDIA index underperformed as it closed with 1.85% cut. Broader market outperformed the benchmark index as both MIDCAP index and SMALLCAP index closed with 1.36% and 1.26% gains respectively.
• Volatility index (India VIX) closed with 3.86% gain at 12.25 level.
• Both FII and DII were net buyers as they bought stocks worth Rs 4,670 Cr and 8,276 Cr respectively during the previous week in the cash segment.
• Globally, equity markets traded with a negative bias as both US market (DJIA) and European market (STOXX 600) closed with 0.50% and 1.79% cut respectively.

Derivatives

• Derivatives data for Nifty suggest max OI addition at 24150 call and 24200 put side with max OI at 24500 call and 23000 put side (14th Jul expiry). Nifty cumulative PCR closed at 1.25 for Jul 10.
• 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 0.99 for Jul 10.

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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 before closing with indecisive candlestick formation on the weekly chart
• Benchmark index is likely to trade volatile in the coming week
• Benchmark Index has support at 23,800–23,500 level and resistance at 24,600–24,900 level

BANKNIFTY (WEEKLY)

• Banking index outperformed the benchmark and closed with indecisive 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 56,800-56,300 and resistance at 59,200-59,700 level

FINNIFTY (WEEKLY)

• FINNIFTY index underperformed the banking index and closed with indecisive 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 26,300-26,100 level and resistance at 27,300-27,500 level.

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Market FAQs – Weekly Summary

1. How did Nifty and Bank Nifty perform during the week?

Nifty declined by 0.26% to close at 24,207, while Bank Nifty outperformed and gained 0.19% to settle at 58,046.

2. Which sectors performed best during the week?

Nifty Realty emerged as the top-performing sector with a gain of 5.37%, supported by continued interest in real estate counters.

3. Which sector underperformed the market?

Nifty Media was the weakest sector, declining 1.85% during the week.

4. What does the rise in India VIX indicate?

India VIX increased by 3.86% to 12.25, indicating higher expected market volatility in the near term.

5. Were foreign investors buyers or sellers?

FIIs remained net buyers with purchases worth ₹4,670 crore, while DIIs also supported markets with buying worth ₹8,276 crore.

6. Which Nifty stocks outperformed during the week?

SBI Life Insurance and Bajaj Auto were among the strongest performers, gaining 4.15% and 3.79%, respectively.

7. Which stocks underperformed the benchmark index?

Trent and Dr. Reddy's Laboratories were among the major laggards, declining 13.11% and 9.45%, respectively.

8. What does the Nifty PCR of 1.25 indicate?

A Put Call Ratio above 1 generally reflects relatively stronger put positioning and may indicate supportive market sentiment.

9. What are the important derivatives levels for Nifty?

Maximum open interest was observed at the 24,500 Call and 23,000 Put strikes, making them important derivatives reference points.

10. What factors should market participants track next week?

Investors may monitor earnings announcements, global market trends, FII-DII flows, India VIX movement, and derivatives positioning.

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.
• Want to refine your risk-reward planning? Explore our insights on 👉 Position Sizing & Risk Management Strategies.
• India VIX Explained
• Track weekly trends and movement using
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