The Nifty closed the week at 24,853, down 166 points from the previous week's close. It traded within a range of 25,062 (high) and 24,462 (low) — perfectly aligning with our forecasted zone of 24,450 – 25,600. On the weekly chart, the index formed an inside candle pattern, signaling consolidation.
Positives: Despite the dip, Nifty continues to hold above the critical support level of 23,800, keeping the medium-term bullish structure intact.
Key Levels to Watch for Next Week:
High/Low to mark: 25,116 – 24,378
Breakout above 25,116 can lead to tests of 25,329 and 25,500 (resistance zones).
Breakdown below 24,378 could retest 23,800 and 23,600.
A weekly close below 23,800 could spell trouble for bulls, opening doors for deeper correction towards 22,800 and 22,100.
Trend Analysis:
Monthly Timeframe: Bearish
Daily Timeframe: Turned Bearish
Weekly Timeframe: Still Bullish
Conclusion: Stay cautious below 24,378 — volatility may rise if this level is breached.
S&P 500 Weekly Snapshot:
The S&P 500 ended the week at 5,802, down 156 points. Once again, it faced stiff resistance around the 5,980 mark — a historically significant level where the index began its downward move in March 2025.
Geopolitical Impact: Markets remain jittery amid escalating global trade tensions and Trump’s tariff war, likely keeping volatility high over the next 2–3 weeks.
Key Support Zones:
Immediate support at 5,700
Close below 5,700 may trigger declines to 5,551, 5,458 (key Fibonacci support), and 5,392
Bullish Breakout Scenario:
Sustained close above 6,000 is required to resume bullish momentum
Upside targets: 6,013, 6,082, 6,147 (All-Time High), and potentially 6,225
Final Takeaway:
Both Nifty and S&P 500 are at critical junctures. With technical patterns pointing to mixed signals and geopolitical events adding fuel to volatility, traders should stay alert and focus on key breakout and breakdown levels.
Positives: Despite the dip, Nifty continues to hold above the critical support level of 23,800, keeping the medium-term bullish structure intact.
Key Levels to Watch for Next Week:
High/Low to mark: 25,116 – 24,378
Breakout above 25,116 can lead to tests of 25,329 and 25,500 (resistance zones).
Breakdown below 24,378 could retest 23,800 and 23,600.
A weekly close below 23,800 could spell trouble for bulls, opening doors for deeper correction towards 22,800 and 22,100.
Trend Analysis:
Monthly Timeframe: Bearish
Daily Timeframe: Turned Bearish
Weekly Timeframe: Still Bullish
Conclusion: Stay cautious below 24,378 — volatility may rise if this level is breached.
S&P 500 Weekly Snapshot:
The S&P 500 ended the week at 5,802, down 156 points. Once again, it faced stiff resistance around the 5,980 mark — a historically significant level where the index began its downward move in March 2025.
Geopolitical Impact: Markets remain jittery amid escalating global trade tensions and Trump’s tariff war, likely keeping volatility high over the next 2–3 weeks.
Key Support Zones:
Immediate support at 5,700
Close below 5,700 may trigger declines to 5,551, 5,458 (key Fibonacci support), and 5,392
Bullish Breakout Scenario:
Sustained close above 6,000 is required to resume bullish momentum
Upside targets: 6,013, 6,082, 6,147 (All-Time High), and potentially 6,225
Final Takeaway:
Both Nifty and S&P 500 are at critical junctures. With technical patterns pointing to mixed signals and geopolitical events adding fuel to volatility, traders should stay alert and focus on key breakout and breakdown levels.
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.