Nifty Spot Weekly Outlook 28Feb to Mar 4th

As discussed in Last Analysis Below 16900 low weak made low of 16203 last week.

Falcon Analytics Outlook Nifty 50 for the week (Feb 28 – Mar4)

Technically on the daily charts we see major support on the downside for Nifty50 index lies at 16298 levels,
whereas major resistance on the upside is capped around 17176 levels.

If Nifty50 index breaches major support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 16028/15589 and and if breaches major resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 17446/17885.

Currently Nifty50 index is trading Below 200 day MA @ 16913 suggests long term trend is Bearish.

Falcon Analytics predicts range for the week is seen from 16023 on downside and 17446 on upside.

( All Spot Levels)

RESISTANCE 4: 18324

RESISTANCE 3: 17885

RESISTANCE 2: 17446

RESISTANCE 1: 17176

WEEKLY PIVOT LEVELS: 16737

SUPPORT 1: 16298

SUPPORT 2: 16028

SUPPORT 3: 15589

SUPPORT 4: 15150

All above views for education purpose only.

Regards,
MD .