Nifty50 Index Weekly Outlook and Analysis:

For the Week: (Feb 07, 2022 – Feb 11, 2022)

NIFTY 50 Index closed the week on positive note gaining 414.35 points 2.42%.

Weekly High: 17,794.60

Weekly Low: 17,244.55

Weekly Close: 17,516.30

Weekly Support & Resistance For Nifty Index:‘

RESISTANCE 2	18,068
RESISTANCE 1	17,792
SUPPORT 1	17,242
SUPPORT 2	16,968

Technically on the daily charts we see minor support on the downside for nifty 50 index lies at 17250 levels, whereas minor resistance on the upside is capped around 17750-17800 levels.

If nifty 50 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 16900 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 18000.

Currently nifty 50 index is trading above200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 17100 on downside and 17900 on upside.

Now Analyze Any Stock Yourself Just In a Few Minutes…

A Free but the Most Powerful Tool For Smarter Analysis of any stock. Analyze any stock at: StockFact – Top Stock Research, Screener And Analysis Tool

---

Note: All our Premium paid subscribers earn very good daily profits irrespective of any market direction. If you wish to subscribe to premium packages or have any queries, kindly contact us or mail us at admin@equitypandit.com or call our Executive at 08000816688.

Premium Subscription Pricing details can be seen at Stock Market Premium Services