Weekly Recap:
Last week, Nifty opened with a gap-down at 21,758.40, dropping 1,146.05 points or 5%. However, it witnessed a recovery during the week and eventually closed at 22,828.55, marking a marginal decline of 0.33% from the previous week's close.
Key Weekly Levels for Next Week
Price Action Pivot Zone:
The crucial zone to watch for any potential reversals or trend continuation is between 22,754 and 22,941.
Support & Resistance Levels:
Support Levels:
Resistance Levels:
Market Outlook:
Bullish Scenario: A sustained move above 22,941 could attract buyers, driving Nifty towards R1 at 23,236 and possibly higher.
Bearish Scenario: If 22,754 fails to hold, the market could witness further selling, driving Nifty towards S1 at 22,429 and possibly lower.
Disclaimer: lnkd.in/gJJDnvn2
Last week, Nifty opened with a gap-down at 21,758.40, dropping 1,146.05 points or 5%. However, it witnessed a recovery during the week and eventually closed at 22,828.55, marking a marginal decline of 0.33% from the previous week's close.
Key Weekly Levels for Next Week
Price Action Pivot Zone:
The crucial zone to watch for any potential reversals or trend continuation is between 22,754 and 22,941.
Support & Resistance Levels:
Support Levels:
- S1: 22,429
- S2: 22,126
- S3: 21,766
Resistance Levels:
- R1: 23,236
- R2: 23,547
- R3: 24,005
Market Outlook:
Bullish Scenario: A sustained move above 22,941 could attract buyers, driving Nifty towards R1 at 23,236 and possibly higher.
Bearish Scenario: If 22,754 fails to hold, the market could witness further selling, driving Nifty towards S1 at 22,429 and possibly lower.
Disclaimer: lnkd.in/gJJDnvn2
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Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.