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By EquityPandit

INDEX OUTLOOKMARKET OUTLOOKNIFTY AUTO

NIFTY AUTO Outlook for the Week (February 26, 2024 – March 01, 2024)

NIFTY AUTO
NIFTY AUTO
NIFTY AUTO closed the previous week on a negative note losing 2.56%.

Technically, NIFTY AUTO share price will see immediate support at 20,297.90 and immediate resistance would be seen at 20,827.90.

If NIFTY AUTO share price closes below immediate support of 20,297.90, then sharp breakdown can be seen. NIFTY AUTO share price will see major support at 19,974.45 for the week.

21000.0021000.0020500.0020500.0020000.0020000.0019500.0019500.0019000.0019000.0018500.0018500.0018000.0018000.00Jan 12Jan 12Jan 17Jan 17Jan 20Jan 20Jan 25Jan 25Jan 31Jan 31Feb 5Feb 5Feb 8Feb 8Feb 13Feb 13Feb 16Feb 16Feb 21Feb 21Reversal Level 20307.56BuyBuyBuySellSellSell

On the positive side, immediate resistance will be seen at 20,827.90. Closing above 20,827.90, NIFTY AUTO share price will see a sharp breakout. Major resistance for NIFTY AUTO share price will be seen at 21,034.45 for the week.

Trading range for NIFTY AUTO share price for this week should be between 19,767.90 on down side and 21,357.90 on up side.

NIFTY AUTO Previous Week High: 20711

NIFTY AUTO Previous Week Low: 20181

NIFTY AUTO Previous Week Range: 530 Points

NIFTY AUTO share price support and resistance for the week (February 26, 2024 – March 01, 2024)

Level Type Value
Resistance 3 21,357.90
Resistance 2 21,034.45
Resistance 1 20,827.90
Support 1 20,297.90
Support 2 19,974.45
Support 3 19,767.90
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