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INDEX OUTLOOKMARKET OUTLOOKNIFTY

NIFTY 50 Outlook for the Week (December 18, 2023 – December 22, 2023)

NIFTY 50
NIFTY 50
NIFTY 50 closed the previous week on a negative note losing 3.36%.

Technically, NIFTY 50 share price will see immediate support at 20,986.67 and immediate resistance would be seen at 21,709.47.

If NIFTY 50 share price closes below immediate support of 20,986.67, then sharp breakdown can be seen. NIFTY 50 share price will see major support at 20,516.68 for the week.

On the positive side, immediate resistance will be seen at 21,709.47. Closing above 21,709.47, NIFTY 50 share price will see a sharp breakout. Major resistance for NIFTY 50 share price will be seen at 21,962.28 for the week.

Trading range for NIFTY 50 share price for this week should be between 20,263.87 on down side and 22,432.27 on up side.

NIFTY 50 Previous Week High: 21492.3

NIFTY 50 Previous Week Low: 20769.5

NIFTY 50 Previous Week Range: 722.8 Points

NIFTY 50 share price support and resistance for the week (December 18, 2023 – December 22, 2023)

Level Type Value
Resistance 3 22,432.27
Resistance 2 21,962.28
Resistance 1 21,709.47
Support 1 20,986.67
Support 2 20,516.68
Support 3 20,263.87
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