Weekly Recap:
The Nifty 50 closed the week at 22,552.50, marking a significant Pull back of 1.93%.
Key Weekly Levels for Next Week
Price Action Pivot Zone:
The crucial zone to watch for any potential reversals or trend continuation is between 22,477 - 22,628.
Support & Resistance Levels:
Support Levels:
Resistance Levels:
R1: 22,854
R2: 22,157
R3: 23,410
Market Outlook:
Bullish Scenario: A sustained move above 22,628 could attract buyers, driving Nifty towards R1 at 22,854 and possibly higher.
Bearish Scenario: If 22,477 fails to hold, the market could witness further selling, driving Nifty towards S1 at 22,254 and possibly lower.
The Nifty 50 closed the week at 22,552.50, marking a significant Pull back of 1.93%.
Key Weekly Levels for Next Week
Price Action Pivot Zone:
The crucial zone to watch for any potential reversals or trend continuation is between 22,477 - 22,628.
Support & Resistance Levels:
Support Levels:
- S1: 22,254
- S2: 21,955
- S3: 21,629
Resistance Levels:
R1: 22,854
R2: 22,157
R3: 23,410
Market Outlook:
Bullish Scenario: A sustained move above 22,628 could attract buyers, driving Nifty towards R1 at 22,854 and possibly higher.
Bearish Scenario: If 22,477 fails to hold, the market could witness further selling, driving Nifty towards S1 at 22,254 and possibly lower.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.