Nifty 50 Weekly Analysis: Key Levels & Trend Outlook

The Nifty 50 ended the week at 23,350.40, recording a notable gain of 4.26%.

Key Levels for the Upcoming Week
🔹 Price Action Pivot Zone:
The critical range to monitor for potential trend reversals or continuation is 23,274 - 23,427.
🔹 Support & Resistance Levels:

Support:

• S1: 23,046
  
• S2: 22,743
  
• S3: 22,427
  

Resistance:

• R1: 23,658
  
• R2: 23,965
  
• R3: 24,227
  

Market Outlook

✅ Bullish Scenario: A sustained breakout above 23,427 may attract buying interest, potentially pushing Nifty towards R1 (23,658) and beyond.

❌ Bearish Scenario: If the index slips below 23,274, selling pressure could increase, driving Nifty towards S1 (23,046) or lower.

Disclaimer: This analysis is for educational purposes only. Investors should conduct their own research before making any trading decisions.