Nifty Weekly Analysis for May 1-5
Updated
Analysis on nifty for upcoming week May 1-5:
The Nifty index seems to exhibit a bullish trend in the long-term & in the short-term as well, according to the market structure.
In the upcoming week, it's important to monitor key levels 17610, 18090, & 18105.
My outlook:
After analyzing the chart, it appears that the Nifty index had a strong upward momentum last week, gaining 475 points.
Based on this, it is my expectation that the market may enter a sideways movement phase with increase volatility in the upcoming week, with the index trading within a range of 500 points, specifically between the levels of 17610 and 18105.
The Nifty index seems to exhibit a bullish trend in the long-term & in the short-term as well, according to the market structure.
In the upcoming week, it's important to monitor key levels 17610, 18090, & 18105.
My outlook:
After analyzing the chart, it appears that the Nifty index had a strong upward momentum last week, gaining 475 points.
Based on this, it is my expectation that the market may enter a sideways movement phase with increase volatility in the upcoming week, with the index trading within a range of 500 points, specifically between the levels of 17610 and 18105.
Trade closed manually
Review on last week Nifty analysis (May 2-5):The weekly market trend followed the projected forecast.
Forecast:
Based on our analysis, the market is expected to exhibit a bullish trend with sideways movement and high volatility.
Actual:
As anticipated, the Nifty index experienced significant volatility on Thursday and remained in a sideways trend within the range of 18090-18250.
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