Check Nifty Energy Index Full Analysis At Unicorn Signals

Nifty Energy Index Weekly Outlook and Analysis:

For the Week: (July 31, 2023 – Aug 04, 2023)

Nifty Energy Outlook for the Week (July 31, 2023 – Aug 04, 2023)

NIFTY ENERGY Index closed the week on positive note gaining 590.60 points 2.29%.

Weekly High: 26,527.65

Weekly Low: 25,623.75

Weekly Close: 26,433.70

Weekly Support & Resistance for Nifty Energy Index:

Technically on the daily charts we see minor support on the downside for NIFTY ENERGY index lies at 26,000 levels, whereas minor resistance on the upside is capped around 26,750-26,800 levels.

If NIFTY ENERGY index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 25,700 and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 27,100.

Currently NIFTY ENERGY index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 25,800 on downside and 27,000 on upside.

.