Check Nifty I.T. Index Full Analysis At Unicorn Signals

NIFTY IT Weekly Outlook and Analysis:

For the Week: (Dec 05, 2022 – Dec 09, 2022)

Check Nifty I.T. Index Full Analysis At Unicorn Signals

NIFTY IT Index closed the week on positive note gaining 717.50 points 2.37%.

Weekly High: 31,227.60

Weekly Low: 30,133.95

Weekly Close: 31,052.10

Weekly Support & Resistance For Nifty IT Index:

Technically on the daily charts we see minor support on the downside for Nifty IT index lies at 30700 levels, whereas minor resistance on the upside is capped around 31400-31450 levels.

If Nifty IT 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 30300 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 31700.

Currently Nifty IT index is trading above 200 days exponential moving average and suggests long term trend is bullish. Equity Pandit’s analyst predicts range for the week is seen from 30400 on downside and 31600 on upside.