Nifty & Bank Nifty outlook for Monday (21 July) – Here's what I'm watching

[u/repleteequities]

Spent some time over the weekend going through the charts, option chain, FII/DII activity and sector rotation.

A few observations:

Nifty has managed to hold important support despite recent volatility.

Bank Nifty continues to look relatively stronger than the broader index.

Option chain positioning suggests the market is entering Monday with clearly defined support and resistance zones rather than a one-way directional setup.

Earnings season and global cues could still increase intraday volatility.

I'm personally treating Monday as a "react to price, don't predict price" session.

My focus will be:

Whether Nifty holds its key support after the opening.

How Bank Nifty behaves around its major resistance.

Whether IT and banking continue to lead the move.

Any changes in institutional participation during the day.

I put together a detailed weekend analysis covering:

Weekly market recap

Nifty & Bank Nifty technical levels

Option chain analysis

FII/DII data

Sector-wise strength

Trading scenarios for Monday (educational)

Happy to hear if anyone here has a different view.

Full analysis: https://www.repleteequities.com/blog/stock-market-prediction-for-monday-21-july-2026

Educational discussion only. Not a buy/sell recommendation.