Nifty IT Outlook for the Week (June 1, 2020 – June 5, 2020)

May 31, 2020December 14, 2020

EquityPandit’s Outlook for NIFTY IT for the week (June 1, 2020 – June 5, 2020):

NIFTY IT:

NIFTY IT Index closed the week on positive note gaining 167.85 points 1.21%.

Weekly High: 14,080.55

Weekly Low: 13,488.10

Weekly Close: 14,010.50

Technically on the daily charts we see minor support on the downside for Nifty IT index lies at 13700 levels, whereas minor resistance on the upside is capped around 14250-14300 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 13300 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 14700.

Currently Nifty IT index is trading below 200 days exponential moving average and suggests long term trend is bearish. Equity Pandit’s analyst predicts range for the week is seen from 13500 on downside and 14600 on upside.

Weekly Pivot Levels:
RESISTANCE 2: 14,452

RESISTANCE 1: 14,231

SUPPORT 1: 13,638

SUPPORT 2: 13,267

INDEX OUTLOOK MARKET OUTLOOK NIFTY IT

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

CRON USERMay 31, 2024

May 31, 2024

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.

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 OUTLOOK MARKET OUTLOOK NIFTY IT

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

CRON USERMay 24, 2024

May 24, 2024

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.

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 OUTLOOK MARKET OUTLOOK NIFTY IT

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

CRON USERMay 17, 2024

May 17, 2024

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.

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 OUTLOOK MARKET OUTLOOK NIFTY IT

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

CRON USERMay 10, 2024

May 10, 2024

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.

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 OUTLOOK MARKET OUTLOOK NIFTY IT

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

CRON USERMay 3, 2024

May 3, 2024

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.

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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