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By EquityPandit

INDEX OUTLOOKMARKET OUTLOOKNIFTY

NIFTY 50 Outlook for the Week (January 01, 2024 – January 05, 2024)

NIFTY 50
NIFTY 50
NIFTY 50 closed the previous week on a negative note losing 2.16%.

Technically, NIFTY 50 share price will see immediate support at 21,440.08 and immediate resistance would be seen at 21,912.08.

If NIFTY 50 share price closes below immediate support of 21,440.08, then sharp breakdown can be seen. NIFTY 50 share price will see major support at 21,148.77 for the week.

22000.0022000.0021500.0021500.0021000.0021000.0020500.0020500.0020000.0020000.0019500.0019500.00Nov 16Nov 16Nov 21Nov 21Nov 24Nov 24Nov 30Nov 30Dec 5Dec 5Dec 8Dec 8Dec 13Dec 13Dec 18Dec 18Dec 21Dec 21Dec 27Dec 27Reversal Level 21534.68BuySell

On the positive side, immediate resistance will be seen at 21,912.08. Closing above 21,912.08, NIFTY 50 share price will see a sharp breakout. Major resistance for NIFTY 50 share price will be seen at 22,092.77 for the week.

Trading range for NIFTY 50 share price for this week should be between 20,968.08 on down side and 22,384.08 on up side.

NIFTY 50 Previous Week High: 21801.45

NIFTY 50 Previous Week Low: 21329.45

NIFTY 50 Previous Week Range: 472 Points

NIFTY 50 share price support and resistance for the week (January 01, 2024 – January 05, 2024)

Level Type Value
Resistance 3 22,384.08
Resistance 2 22,092.77
Resistance 1 21,912.08
Support 1 21,440.08
Support 2 21,148.77
Support 3 20,968.08
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