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By EquityPandit

INDEX OUTLOOKMARKET OUTLOOKNIFTY AUTO

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

NIFTY AUTO
NIFTY AUTO
NIFTY AUTO closed the previous week on a negative note losing 4.88%.

Technically, NIFTY AUTO share price will see immediate support at 18,043.57 and immediate resistance would be seen at 18,956.17.

If NIFTY AUTO share price closes below immediate support of 18,043.57, then sharp breakdown can be seen. NIFTY AUTO share price will see major support at 17,468.93 for the week.

19000.0019000.0018500.0018500.0018000.0018000.0017500.0017500.0017000.0017000.0016500.0016500.00Nov 16Nov 16Nov 21Nov 21Nov 24Nov 24Nov 30Nov 30Dec 5Dec 5Dec 8Dec 8Dec 13Dec 13Dec 18Dec 18Dec 21Dec 21Dec 27Dec 27Reversal Level 18305.25BuySell

On the positive side, immediate resistance will be seen at 18,956.17. Closing above 18,956.17, NIFTY AUTO share price will see a sharp breakout. Major resistance for NIFTY AUTO share price will be seen at 19,294.13 for the week.

Trading range for NIFTY AUTO share price for this week should be between 17,130.97 on down side and 19,868.77 on up side.

NIFTY AUTO Previous Week High: 18719.5

NIFTY AUTO Previous Week Low: 17806.9

NIFTY AUTO Previous Week Range: 912.6 Points

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

Level Type Value
Resistance 3 19,868.77
Resistance 2 19,294.13
Resistance 1 18,956.17
Support 1 18,043.57
Support 2 17,468.93
Support 3 17,130.97
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