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INDEX OUTLOOKMARKET OUTLOOKNIFTY OIL & GAS

NIFTY OIL & GAS Outlook for the Week (May 20, 2024 – May 24, 2024)

NIFTY OIL & GAS
NIFTY OIL & GAS
NIFTY OIL & GAS closed the previous week on a negative note losing 5.23%.

Technically, NIFTY OIL & GAS share price will see immediate support at 11,242.50 and immediate resistance would be seen at 11,852.05.

If NIFTY OIL & GAS share price closes below immediate support of 11,242.50, then sharp breakdown can be seen. NIFTY OIL & GAS share price will see major support at 10,840.60 for the week.

On the positive side, immediate resistance will be seen at 11,852.05. Closing above 11,852.05, NIFTY OIL & GAS share price will see a sharp breakout. Major resistance for NIFTY OIL & GAS share price will be seen at 12,059.70 for the week.

Trading range for NIFTY OIL & GAS share price for this week should be between 10,632.95 on down side and 12,461.60 on up side.

NIFTY OIL & GAS Previous Week High: 11657.8

NIFTY OIL & GAS Previous Week Low: 11048.25

NIFTY OIL & GAS Previous Week Range: 609.55 Points

NIFTY OIL & GAS share price support and resistance for the week (May 20, 2024 – May 24, 2024)

Level Type Value
Resistance 3 12,461.60
Resistance 2 12,059.70
Resistance 1 11,852.05
Support 1 11,242.50
Support 2 10,840.60
Support 3 10,632.95
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