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NIFTY ENERGY Weekly Outlook and Analysis:

For the Week: (March 21, 2022 – March 25, 2022)

NIFTY ENERGY Index closed the week on positive note gaining 300.50 points 1.20%.

Weekly High: 25,383.80

Weekly Low: 24,205

Weekly Close: 25,304.80

Weekly Support & Resistance For Nifty Index:

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Technically on the daily charts we see minor support on the downside for NIFTY ENERGY index lies at  24800 levels, whereas minor resistance on the upside is capped around 25650-25700 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 24500 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 26200.

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 24600 on downside and 26100 on upside.