The Nifty 50 ended the week at 24,837.00, registering a decline of -0.53%.
🔹 Key Levels for the Upcoming Week
📌 Price Action Pivot Zone:
24,759 to 24,916 – This range is crucial for identifying potential trend continuation or reversal. A move outside this zone could set the directional tone for the coming sessions.
🔻 Support Levels:
Support 1 (S1): 24,524
Support 2 (S2): 24,211
Support 3 (S3): 23,875
🔺 Resistance Levels:
Resistance 1 (R1): 25,154
Resistance 2 (R2): 25,471
Resistance 3 (R3): 25,810
📈 Market Outlook
✅ Bullish Scenario:
A sustained move above 24,916 (top of the pivot zone) may attract buying interest. If this momentum builds, the index could test R1 (25,154), and potentially advance towards R2 (25,471) and R3 (25,810).
❌ Bearish Scenario:
Failure to hold above 24,759 (bottom of the pivot zone) may lead to further downside pressure. In such a case, Nifty may move towards S1 (24,524), and deeper support levels like S2 (24,211) and S3 (23,875)
Disclaimer: lnkd.in/gJJDnvn2
🔹 Key Levels for the Upcoming Week
📌 Price Action Pivot Zone:
24,759 to 24,916 – This range is crucial for identifying potential trend continuation or reversal. A move outside this zone could set the directional tone for the coming sessions.
🔻 Support Levels:
Support 1 (S1): 24,524
Support 2 (S2): 24,211
Support 3 (S3): 23,875
🔺 Resistance Levels:
Resistance 1 (R1): 25,154
Resistance 2 (R2): 25,471
Resistance 3 (R3): 25,810
📈 Market Outlook
✅ Bullish Scenario:
A sustained move above 24,916 (top of the pivot zone) may attract buying interest. If this momentum builds, the index could test R1 (25,154), and potentially advance towards R2 (25,471) and R3 (25,810).
❌ Bearish Scenario:
Failure to hold above 24,759 (bottom of the pivot zone) may lead to further downside pressure. In such a case, Nifty may move towards S1 (24,524), and deeper support levels like S2 (24,211) and S3 (23,875)
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.