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
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.