Nifty 50, Sensex and Nifty Bank index opened the week with a wide gap-up last week. Thereafter they broadly stayed stable but higher all through the week. All the three indices were up over 1.5 per cent each last week. The US and Iran agreeing for a peace deal trigger this gap-up open last week.On the charts, the picture is positive. Sensex and Nifty have resistance ahead. They are likely to breach this hurdle and move further higher. Nifty Bank index on the other hand can remain in range for some time. Eventually it is likely to make a bullish breakout of its range and go higher.FPIs BuyThe Foreign Portfolio Investors (FPIs) snapped their eight-week selling spree. They bought $251 million in the equity segment. If they start to accelerate their purchase, then it can aid the Nifty and Sensex to gather bullish momentum. We will have to wait and watch.Video Credit: BusinesslineNifty 50 (24,013.10)Short-term view: The follow-through rise last week turns the picture positive. Support is in the 23,800-23,600 region. Resistance is at 24,250. Nifty can breach this hurdle and rise to 24,500 and 24,800 in the coming weeks.The short-term picture will turn negative only if the Nifty declines below 23,600. If that happens, a fall to 23,300 and 23,000 can be seen again. But that looks less likely. The price action on the chart suggests that the Nifty can sustain very well above the 23,800-23,600 support zone.Medium-term view: Nifty seems to have resumed its upmove within the broad 22,000-26,500 range. A break above 24,800 from here will clear the way for a rise towards 26,500 – the upper end of the range.The overall picture continues to remain positive. As such we expect the Nifty to make a bullish breakout above 26,500 eventually in the coming months. Such a break can take the index higher to 28,000 and 30,000 in the long term.The bullish view will go wrong only if the Nifty declines below 22,000. That looks less likely at the moment.Nifty Bank (57,685.75)Short-term view: The break above 57,000 and the rise to 58,000 happened in line with our expectation. Last week’s candle indicates a kind of indecisiveness in the market.Support is at 56,500 and resistance is at 58,800. Nifty Bank index can oscillate in a range of 56,500-58,800 for some time now. However, the bias remains positive. So, an eventual break above 58,800 can take the index higher to 60,500-61,000.The index will come under pressure for a fall to 56,000 or 55,000 only if it declines below 56,500.Medium-term view: The outlook remains bullish. Key resistance to watch will be the 60,500-61,000 region. A decisive break above 61,000 can boost the momentum. It can then take the Nifty Bank index up to 65,000 in the medium term. From a long-term perspective, the index has potential to target 68,000-69,000 on the upside.Sensex (76,802.90)Short-term view: Sensex touched a high of 77,492 and has come off from there. The region between 76,300 and 76,000 will now be a very good support. Resistance is around 77,800.We expect the Sensex to sustain above 76,000 and breach 77,800 in the coming days. Such a break can take it up to 78,500-79,000 and even higher.The above-mentioned rise will get delayed only if the Sensex declines below 76,000. In that case, a fall to 75,300 and even lower levels is possible.Medium-term view: There is no change in the broader bullish outlook. For, now the Sensex is stuck inside the broad 71,000-86,000 range. Within that it is now moving up.Intermediate resistance is around 80,000. A break above it can take the Sensex up to 86,000 – the upper end of the range, in the medium term.An eventual break above 86,000 can strengthen the momentum. It will then open the doors for the Sensex to target 90,000 and even 94,000 in the long term.The bullish view will get negated only if the index falls below 71,000.Nifty Midcap 150 (22,972.95)The 21,700-23,000 range remains intact. The index has moved up within that and has come closer to the upper end of the range. Another strong resistance is around 23,150. So, the index has to break 23,000 and then get a subsequent rise above 23,150 in order to gather fresh bullish momentum. Such a break will then trigger a fresh rally to 26,000-26,500 in the medium term. It will also keep the upside open for the Nifty Midcap 150 index to target 28,000-28,500 in the long term.Failure to rise above 23,000 or 23,150 can continue to keep the index inside the sideways range for some more time. The short-term picture will turn negative only if the index breaks below 21,700. That looks less likely. But if such a break happens, then Nifty Midcap 150 index can fall to 21,000-20,800.The long-term bullish view will go wrong only if the index declines below 20,800.Nifty Smallcap 250 (17,713.80)The rise last week indicates that the index could be gaining momentum. Crucial resistance to watch will be the 18,000-18,300 region which can be tested this week. The bias is positive to breach 18,300 eventually. Such a break can take the Nifty Smallcap 250 index up to 22,500-23,000 and even 24,000 in the long term.Failure to breach 18,300 from here can take the index down to 17,600-17,500. The short-term outlook will turn negative only if the index declines below 17,500. If that happens, a fall to 17,200 can be seen.For the long-term bullish outlook to go wrong, the Nifty Smallcap 250 index has to decline below 14,000.Published on June 20, 2026