Check Nifty Energy Index Full Analysis At Unicorn Signals

NIFTY ENERGY Weekly Outlook and Analysis:

For the Week: (Dec 19, 2022 – Dec 23, 2022)

Check Nifty Energy Index Full Analysis At Unicorn Signals

NIFTY ENERGY Index closed the week on negative note losing 68.45 points 0.26%.

Weekly High: 26,739.70

Weekly Low: 26,118.15

Weekly Close: 26,302

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  25950 levels, whereas minor resistance on the upside is capped around 26700-26750 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 25400 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 27100.

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 25600 on downside and 26900 on upside.