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By EquityPandit

NIFTY IT

Nifty IT Outlook for the Week (April 17, 2017 – April 21, 2017)

EquityPandit’s Outlook for NIFTY IT for the week  (April 17, 2017 – April 21, 2017) :

NIFTY IT:

 

NIFTYIT

 

Nifty IT index closed the week on negative note losing around 4.00%.

As we have mentioned last week that minor resistance for the index lies in the zone of 10550 to 10600. Resistance for the index lies in the zone of 10680 to 10720 from where the index broke down after consolidation. If the index manages to close above these levels then the index can move to the levels of 10900 to 11000 where long term Fibonacci levels and top for the month of March-2017 are lying. During the week the index manages to hit a high of 10543 and close the week around the levels of 10064.

Support for the index lies in the zone of 9890 to 9930 where trend-line joining lows of 9295 and 9592 is lying and long term Fibonacci level is lying. If the index manages to close below these levels then the index can drift to the levels of 9580 to 9620 levels where the index has formed a low in the month of February-2017.

Resistance for the index lies in the zone of 10200 to 10300 where Fibonacci level is lying. If the index manages to close above these levels then the index can move to the levels of 10500 to 10550 where 200 Daily moving average and Fibonacci level is lying.

Broad range for the index in the coming week is seen from 9800 to 9850 on downside & 10300 to 10350 on upside.

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INDEX OUTLOOKMARKET OUTLOOKNIFTY IT

NIFTY IT Outlook for the Week (June 03, 2024 – June 07, 2024)

CRON USER
NIFTY IT
NIFTY IT closed the previous week on a negative note losing 5.69%.

Technically, NIFTY IT share price will see immediate support at 31,702.25 and immediate resistance would be seen at 33,648.50.

If NIFTY IT share price closes below immediate support of 31,702.25, then sharp breakdown can be seen. NIFTY IT share price will see major support at 31,018.40 for the week.

34500.0034500.0034000.0034000.0033500.0033500.0033000.0033000.0032500.0032500.0032000.0032000.00Apr 19Apr 19Apr 24Apr 24Apr 29Apr 29May 3May 3May 8May 8May 13May 13May 16May 16May 21May 21May 24May 24May 29May 29Reversal Level 33002.63BuySell

On the positive side, immediate resistance will be seen at 33,648.50. Closing above 33,648.50, NIFTY IT share price will see a sharp breakout. Major resistance for NIFTY IT share price will be seen at 34,910.90 for the week.

Trading range for NIFTY IT share price for this week should be between 29,756.00 on down side and 35,594.75 on up side.

NIFTY IT Previous Week High: 34227.05

NIFTY IT Previous Week Low: 32280.8

NIFTY IT Previous Week Range: 1946.25 Points

NIFTY IT share price support and resistance for the week (June 03, 2024 – June 07, 2024)

Level Type Value
Resistance 3 35,594.75
Resistance 2 34,910.90
Resistance 1 33,648.50
Support 1 31,702.25
Support 2 31,018.40
Support 3 29,756.00
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INDEX OUTLOOKMARKET OUTLOOKNIFTY IT

NIFTY IT Outlook for the Week (May 27, 2024 – May 31, 2024)

CRON USER
NIFTY IT
NIFTY IT closed the previous week on a negative note losing 2.66%.

Technically, NIFTY IT share price will see immediate support at 33,311.35 and immediate resistance would be seen at 34,217.65.

If NIFTY IT share price closes below immediate support of 33,311.35, then sharp breakdown can be seen. NIFTY IT share price will see major support at 32,798.40 for the week.

35500.0035500.0035000.0035000.0034500.0034500.0034000.0034000.0033500.0033500.0033000.0033000.0032500.0032500.00Apr 10Apr 10Apr 16Apr 16Apr 22Apr 22Apr 25Apr 25Apr 30Apr 30May 6May 6May 9May 9May 14May 14May 17May 17May 22May 22Reversal Level 33530.36Buy

On the positive side, immediate resistance will be seen at 34,217.65. Closing above 34,217.65, NIFTY IT share price will see a sharp breakout. Major resistance for NIFTY IT share price will be seen at 34,611.00 for the week.

Trading range for NIFTY IT share price for this week should be between 32,405.05 on down side and 35,123.95 on up side.

NIFTY IT Previous Week High: 34098.05

NIFTY IT Previous Week Low: 33191.75

NIFTY IT Previous Week Range: 906.3 Points

NIFTY IT share price support and resistance for the week (May 27, 2024 – May 31, 2024)

Level Type Value
Resistance 3 35,123.95
Resistance 2 34,611.00
Resistance 1 34,217.65
Support 1 33,311.35
Support 2 32,798.40
Support 3 32,405.05
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INDEX OUTLOOKMARKET OUTLOOKNIFTY IT

NIFTY IT Outlook for the Week (May 20, 2024 – May 24, 2024)

CRON USER
NIFTY IT
NIFTY IT closed the previous week on a negative note losing 3.25%.

Technically, NIFTY IT share price will see immediate support at 32,778.50 and immediate resistance would be seen at 33,875.95.

If NIFTY IT share price closes below immediate support of 32,778.50, then sharp breakdown can be seen. NIFTY IT share price will see major support at 32,175.15 for the week.

36000.0036000.0035500.0035500.0035000.0035000.0034500.0034500.0034000.0034000.0033500.0033500.0033000.0033000.0032500.0032500.00Apr 3Apr 3Apr 8Apr 8Apr 12Apr 12Apr 18Apr 18Apr 23Apr 23Apr 26Apr 26May 2May 2May 7May 7May 10May 10May 15May 15Reversal Level 33112.37Buy

On the positive side, immediate resistance will be seen at 33,875.95. Closing above 33,875.95, NIFTY IT share price will see a sharp breakout. Major resistance for NIFTY IT share price will be seen at 34,370.05 for the week.

Trading range for NIFTY IT share price for this week should be between 31,681.05 on down side and 34,973.40 on up side.

NIFTY IT Previous Week High: 33766.7

NIFTY IT Previous Week Low: 32669.25

NIFTY IT Previous Week Range: 1097.45 Points

NIFTY IT share price support and resistance for the week (May 20, 2024 – May 24, 2024)

Level Type Value
Resistance 3 34,973.40
Resistance 2 34,370.05
Resistance 1 33,875.95
Support 1 32,778.50
Support 2 32,175.15
Support 3 31,681.05
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INDEX OUTLOOKMARKET OUTLOOKNIFTY IT

NIFTY IT Outlook for the Week (May 13, 2024 – May 17, 2024)

CRON USER
NIFTY IT
NIFTY IT closed the previous week on a negative note losing 2.20%.

Technically, NIFTY IT share price will see immediate support at 32,639.30 and immediate resistance would be seen at 33,378.25.

If NIFTY IT share price closes below immediate support of 32,639.30, then sharp breakdown can be seen. NIFTY IT share price will see major support at 32,343.45 for the week.

36000.0036000.0035500.0035500.0035000.0035000.0034500.0034500.0034000.0034000.0033500.0033500.0033000.0033000.0032500.0032500.00Mar 26Mar 26Apr 1Apr 1Apr 4Apr 4Apr 9Apr 9Apr 15Apr 15Apr 19Apr 19Apr 24Apr 24Apr 29Apr 29May 3May 3May 8May 8Reversal Level 33450.22

On the positive side, immediate resistance will be seen at 33,378.25. Closing above 33,378.25, NIFTY IT share price will see a sharp breakout. Major resistance for NIFTY IT share price will be seen at 33,821.35 for the week.

Trading range for NIFTY IT share price for this week should be between 31,900.35 on down side and 34,117.20 on up side.

NIFTY IT Previous Week High: 33525.5

NIFTY IT Previous Week Low: 32786.55

NIFTY IT Previous Week Range: 738.95 Points

NIFTY IT share price support and resistance for the week (May 13, 2024 – May 17, 2024)

Level Type Value
Resistance 3 34,117.20
Resistance 2 33,821.35
Resistance 1 33,378.25
Support 1 32,639.30
Support 2 32,343.45
Support 3 31,900.35
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INDEX OUTLOOKMARKET OUTLOOKNIFTY IT

NIFTY IT Outlook for the Week (May 06, 2024 – May 10, 2024)

CRON USER
NIFTY IT
NIFTY IT closed the previous week on a negative note losing 3.26%.

Technically, NIFTY IT share price will see immediate support at 32,468.32 and immediate resistance would be seen at 33,570.67.

If NIFTY IT share price closes below immediate support of 32,468.32, then sharp breakdown can be seen. NIFTY IT share price will see major support at 32,028.23 for the week.

38000.0038000.0037500.0037500.0037000.0037000.0036500.0036500.0036000.0036000.0035500.0035500.0035000.0035000.0034500.0034500.0034000.0034000.0033500.0033500.0033000.0033000.0032500.0032500.00Mar 18Mar 18Mar 21Mar 21Mar 27Mar 27Apr 2Apr 2Apr 5Apr 5Apr 10Apr 10Apr 16Apr 16Apr 22Apr 22Apr 25Apr 25Apr 30Apr 30Reversal Level 33497.02Sell

On the positive side, immediate resistance will be seen at 33,570.67. Closing above 33,570.67, NIFTY IT share price will see a sharp breakout. Major resistance for NIFTY IT share price will be seen at 34,232.93 for the week.

Trading range for NIFTY IT share price for this week should be between 31,365.97 on down side and 34,673.02 on up side.

NIFTY IT Previous Week High: 33792.85

NIFTY IT Previous Week Low: 32690.5

NIFTY IT Previous Week Range: 1102.35 Points

NIFTY IT share price support and resistance for the week (May 06, 2024 – May 10, 2024)

Level Type Value
Resistance 3 34,673.02
Resistance 2 34,232.93
Resistance 1 33,570.67
Support 1 32,468.32
Support 2 32,028.23
Support 3 31,365.97
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