Check Nifty Energy Index Full Analysis At Unicorn Signals

NIFTY ENERGY Weekly Outlook and Analysis:

For the Week: (Oct 31, 2022 – Nov 04, 2022)

Check Nifty Energy Index Full Analysis At Unicorn Signals

NIFTY ENERGY Index closed the week on positive note gaining 585.70 points 2.26%.

Weekly High: 26,536.80

Weekly Low: 25,729.35

Weekly Close: 26,493.25

Weekly Support & Resistance For Nifty Energy Index:

Technically on the daily charts we see minor support on the downside for NIFTY ENERGY index lies at  26100 levels, whereas minor resistance on the upside is capped around 26900-27000 levels.

If NIFTY ENERGY index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 25700 and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 27400.

Currently NIFTY ENERGY index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 25800 on downside and 27300 on upside.