Weekly Market Outlook: Bulls Stay in Control Amid Resistance Zones

Written by Jainam Resources

Last Updated on: February 2, 2026

Markets extended their positive momentum for the third consecutive week as Nifty, Bank Nifty, and Sensex posted steady gains. Despite some intraday volatility and signs of profit booking, the broader trend remains positive — with indices forming higher highs and higher lows on the weekly charts.

Here’s how the markets performed and what to expect in the sessions ahead:

Nifty Outlook: Cautious Optimism With Key Resistance at 25,450 Level

Nifty opened the week at 25118.90 level, made a high of 25448.95 level, touched a low of 25048.75 level, and closed at 25327.05 level, recording a weekly gain of 213.00 points.

On the weekly chart, Nifty formed its third consecutive bullish candle — a sign of strength and continued accumulation at lower levels. However, on the daily chart, the index ended with a bearish candle, hinting at some selling pressure at the upper end of the range.

Key technical levels to watch:

• If Nifty sustains above 25450 level, it could move higher toward 25500–25800 level.
  
• However, if it slips below 25250 level, expect selling pressure that could drag it toward 25000–24900 level.

The index is expected to trade between 25500–24500 level, and a breakout on either side could determine the next directional move.

Bank Nifty Outlook: Bullish Structure Intact Despite Minor Weakness

Bank Nifty opened the week at 54884.05 level, made a high of 55835.25 level, touched a low of 54777.75 level, and closed at 55458.85 level, posting a weekly gain of 649.55 points.

The weekly chart reflects continued buying interest as the index formed another bullish candle. However, Bank Nifty broke a 13-day winning streak on the daily chart, closing the session slightly lower after forming a bearish candle.

What to track this week:

• If the index crosses and sustains above 55800 level, it may rally further toward 56200–56500 level.
  
• On the other hand, a breakdown below 55200 level might trigger selling, dragging it toward 54800–54500 level.

Resistance Levels:

• 55800 level, 56200 level, 56500 level

Support Levels:

• 55200 level, 54800 level, 54500 level

The expected trading range remains between 56000–54000 level.

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Sensex Outlook: Third Week of Gains, But Watch 82200 Level for Clarity

Sensex opened the week at 81925.51 level, made a high of 83141.21 level, dipped to a low of 81744.70 level, and ended at 82626.23 level, closing with a weekly gain of 721.53 points.

The index continues its bullish pattern with a strong weekly close, forming a series of higher highs and higher lows. Yet, much like Nifty, the daily chart showed a bearish candle amid higher intraday volumes — often a sign of profit booking or hesitation at resistance.

Levels to watch:

• If Sensex crosses and holds above 83200 level, it may rally to 83700–84100 level.
  
• But if it falls below 82200 level, it could weaken toward 81700–81200 level.

Resistance Levels:

• 83200 level, 83700 level, 84100 level

Support Levels:

• 82200 level, 81700 level, 81200 level

The range for the coming week is likely to be 84000–79800 level unless a breakout takes place. If you prefer to balance equities with diversified investments, explore Understanding Mutual Funds: A Complete Guide for Beginners.

Conclusion: Bulls Still in Charge, But Near-Term Resistance May Test Patience

All three major indices have shown impressive strength over the past three weeks, backed by strong market breadth and positive sentiment. However, short-term traders should stay alert as resistance levels highlighted above may lead to some profit booking or consolidation.

Until a breakout confirms further upside, adopting a disciplined, level-based approach is key to navigating the current market.

You can also explore Gold Price Update & Market Trends for a broader view of commodity sentiment influencing investor behavior.