Nifty
NIFTY: 24270.85 ln our previous update we highlighted the importance of levels of 24350 and 23750 and indicated the nifty might be in a range of this 600 points.
The Nifty opened the week at 24061.75 and declined to a low of 23830. It then rebounded from there to move to a high of 24378 before closing the week at 24270. It is now clear that a closing above 24350 would suggest continuation on the upside and next pivot of 24600. A failure to do so would keep the nifty ranged between 24350 - 23750.
Nifty Summary:
Upside resistance 24350 / 24600
Downside support 23730 – 23800/ 23500
Bank Nifty
BANK NIFTY: 57938 In our previous update, we had highlighted that the banknifty has an important supply pivot at 58400 - 58450. During the week the banknifty opened at 58191 and moved to a high of 58396, failing to get past 58450 and closing at 57938.
Going forward, note that the level of 58350 - 58400 would be a significant barrier on the upside. A closing above that would be positive and suggest a test of 59000 or even 59500 levels. A failure to do so would keep it in the range of 58450 on the upside to a zone of 56870 – 57000 (weekly gap support area) on the downside.
Cummins cmp
Cummins cmp 5478 The share price of Cummins India rallied from a low of 3834 in January 2026 and recorded a high of 6100. It now appears that the share price of Cummins India is breaking below the rising trendline, which had defined the aforementioned up move. It should be noted that the share price has also slipped below its short term moving averages and the indicators have also turned negative adding evidence to the possibility of correction in the stock price.
Traders can look at the upside level of 5620 – 5630 (level of 10 day and 21-day EMA) as the level below which immediate outlook will be weak. If the stock price remains below this it is very likely that it may correct to levels of 5150 / 5000.
TAadhar HFC cmp
TAadhar HFC cmp 555.60 The share price of The Aadhar HFC appears to have recorded a breakout from a rounding cup formation on the upside (please refer the chart above). The previous high for the stock was at 540 and any pullback to this level would be a chance to initiate or add to long side exposure.
The measuring target of the pattern suggests possibility of price moving to levels of 620 / 650. Traders should slowly accumulate the stock and add on declines to levels of 540 - 535. Keep a stop below 519.
Hudco cmp
Hudco cmp 215.56: The share price of HUDCO has been slowly moving up and holding above its 10-week moving average (again refer the chart above). The indicators are also rising suggesting momentum support to this up move.
It should be noted that on the upside multiple highs have been made around 232 236 levels, making that as a near term trading target. The 10 week average is placed at 206, which should be a support level.
Traders should slowly accumulate the stock at CMP and add on declines to levels of 210 - 207. Keep a stop below 202.5. On the upside 232 – 236 would be the area to take profits if the price moves up to those levels.
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