Weekly Recap:
The Nifty 50 closed the week at 22,929.25, marking a significant decline of -2.68%. The bearish momentum dominated the market, pulling the index lower as selling pressure intensified.
Key Weekly Levels for Next Week
Price Action Pivot Zone:
The crucial zone to watch for any potential reversals or trend continuation is between 22,977 - 23,067.
Support & Resistance Levels:
Support Levels:
S1: 22,628
S2: 22,327
S3: 22,062
Resistance Levels:
R1: 23,234
R2: 23,539
R3: 23,808
Trend & Decisive Levels:
Uptrend Confirmation: A 1-hour candle close above 23,427 will indicate a positional uptrend, signaling strength and a potential move higher.
Decisive Level for Downtrend: The index remains downtrend, but 22,776 is a critical level to watch. If a 1-hour candle closes below this level could trigger further downside momentum, potentially dragging the index toward lower supports.
Market Outlook:
Bullish Scenario: A sustained move above 23,067 and strength beyond 23,427 could attract buyers, leading to a possible retest of R1 at 23,234 and beyond.
Bearish Scenario: If 22,776 fails to hold, the market could witness further selling, driving Nifty towards S1 at 22,628 and possibly lower.
Conclusion: With Nifty 50 facing downward pressure, the upcoming week is crucial. The 22,776 level holds the key—staying above could offer temporary relief, while a breakdown may accelerate the decline. Keep an eye on these levels and trade cautiously!
The Nifty 50 closed the week at 22,929.25, marking a significant decline of -2.68%. The bearish momentum dominated the market, pulling the index lower as selling pressure intensified.
Key Weekly Levels for Next Week
Price Action Pivot Zone:
The crucial zone to watch for any potential reversals or trend continuation is between 22,977 - 23,067.
Support & Resistance Levels:
Support Levels:
S1: 22,628
S2: 22,327
S3: 22,062
Resistance Levels:
R1: 23,234
R2: 23,539
R3: 23,808
Trend & Decisive Levels:
Uptrend Confirmation: A 1-hour candle close above 23,427 will indicate a positional uptrend, signaling strength and a potential move higher.
Decisive Level for Downtrend: The index remains downtrend, but 22,776 is a critical level to watch. If a 1-hour candle closes below this level could trigger further downside momentum, potentially dragging the index toward lower supports.
Market Outlook:
Bullish Scenario: A sustained move above 23,067 and strength beyond 23,427 could attract buyers, leading to a possible retest of R1 at 23,234 and beyond.
Bearish Scenario: If 22,776 fails to hold, the market could witness further selling, driving Nifty towards S1 at 22,628 and possibly lower.
Conclusion: With Nifty 50 facing downward pressure, the upcoming week is crucial. The 22,776 level holds the key—staying above could offer temporary relief, while a breakdown may accelerate the decline. Keep an eye on these levels and trade cautiously!
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.
Exención de responsabilidad
La información y las publicaciones que ofrecemos, no implican ni constituyen un asesoramiento financiero, ni de inversión, trading o cualquier otro tipo de consejo o recomendación emitida o respaldada por TradingView. Puede obtener información adicional en las Condiciones de uso.