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Sunday, May 4, 2025

Weekly Market Wrap Nifty, Mid & Small Caps, and S&P 500 Outlook

Nifty 50 Index NSE:NIFTY

ssudhirsharma11

Nifty ended the week on a strong bullish note, closing at 24,346, up by 307 points from the previous week. The index traded within a tight range, hitting a high of 24,589 and a low of 24,054, aligning perfectly with my projected range of 24,650–23,400.

📌 Key Technical Levels to Watch:

Nifty closed just below a crucial Fibonacci resistance at 24,414.

A daily close above 24,414 next week could open the door for a sharp move towards the next major resistance at 24,770.

While my system suggests a broader range of 24,900–23,800, I personally hope for a healthy consolidation to cool off some momentum—paving the way for a stronger, faster rally in the coming weeks.

Caution Zone:

A break below 23,800 might signal the return of bears, potentially dragging the index down to test critical support at 23,200/23,100.

Midcap & Smallcap Watch:
I’ve received a lot of queries about Midcap and Smallcap indices, and here’s the honest truth—they remain in a 'no-trade' zone. Despite Nifty's strength, the rally hasn’t lifted most Mid & Small Cap stocks.

👉 Investors holding quality, fundamentally strong stocks in these segments should stay calm, but avoid high PE or overvalued stocks until we get a clear monthly buy signal on the charts.

🌍 Global Markets – S&P 500 Analysis:
The S&P 500 closed the week at 5,686, just above the strong Fibonacci level of 5,637. Sustaining above this level could lead to a rally toward 5,770/5,821. However, a failure to hold this support might trigger a 2–3% pullback, which could ripple across global markets, including India.

📣 Bottom Line:

Nifty bulls need a close above 24,414 to push higher.

Mid & Small Cap space remains tricky—stay selective.

Watch global cues, especially from the US, for broader market direction.

Stay nimble, stay informed. ✅