#Nifty50, S&P500 analysis for upcoming week 22-26th July 2024
#Nifty50 ended the week flat, hovering within the predicted 25000-23950 range. Buckle up, because next week's Union Budget on July 23rd promises high volatility. Expect a wider trading range of 25250-23800. A breakout from these levels could ignite significant price movement.
Remember my July 6th blog post? It highlighted Nifty's historical correction trend around late July/early August. This year could be no different, offering a potential discount window for savvy investors to enter their favorite stocks at attractive prices. Stay prepared!
Meanwhile, the #S&P500 failed to breach a crucial resistance level (5638) and dipped 3% from its high. If it breaks below this week's low (5509), support levels at 5430/5368/5293 could be tested. A decline in the S&P 500 could also exert pressure on the Indian market.
Remember my July 6th blog post? It highlighted Nifty's historical correction trend around late July/early August. This year could be no different, offering a potential discount window for savvy investors to enter their favorite stocks at attractive prices. Stay prepared!
Meanwhile, the #S&P500 failed to breach a crucial resistance level (5638) and dipped 3% from its high. If it breaks below this week's low (5509), support levels at 5430/5368/5293 could be tested. A decline in the S&P 500 could also exert pressure on the Indian market.
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