F&O Talk: Nifty to remain rangebound, says Sudeep Shah; picks 8 stocks for next week

Nifty closed at 24,056, up 34 points, after a volatile truncated week that saw it form a High Wave candle for the second consecutive week, signalling indecision. SBI Securities analyst Sudeep Shah expects the index to remain range-bound between 23,750-23,800 support and 24,250-24,300 resistance, with a breakout above 24,300 potentially opening a rally towards 24,500-24,700. Bank Nifty, which outperformed and broke out of a 7-day consolidation before facing profit booking at 58,706, has immediate resistance at 58,700-58,800 and support at 57,400-57,500. F&O data showed Nifty gained 0.78% between June 15-25 while open interest in index futures declined 1.25%, suggesting improving but not aggressively bullish positioning.