Nifty 50 Weekly Analysis: Key Levels & Trend Outlook

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Weekly Recap:
The Nifty 50 closed the week at 22,552.50, marking a significant Pull back of 1.93%.

Key Weekly Levels for Next Week
Price Action Pivot Zone:

The crucial zone to watch for any potential reversals or trend continuation is between 22,477 - 22,628.

Support & Resistance Levels:

Support Levels:
  • S1: 22,254
  • S2: 21,955
  • S3: 21,629


Resistance Levels:

R1: 22,854
R2: 22,157
R3: 23,410

Market Outlook:

Bullish Scenario: A sustained move above 22,628 could attract buyers, driving Nifty towards R1 at 22,854 and possibly higher.
Bearish Scenario: If 22,477 fails to hold, the market could witness further selling, driving Nifty towards S1 at 22,254 and possibly lower.

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