Nifty50 Index Weekly Outlook and Analysis:

For the Week: (Jan 17,2022 – Jan 21,2022)

NIFTY 50 Index closed the week on positive note gaining 443.05 points 2.487%.

Weekly High: 18,286.95

Weekly Low: 17,879.15

Weekly Close: 18255.75

Weekly Support & Resistance For Nifty Index:

RESISTANCE 2	18,388
RESISTANCE 1	18,321
SUPPORT 1	18154
SUPPORT 2	18053

Technically on the daily charts we see minor support on the downside for nifty 50 index lies at 18154 levels, whereas minor resistance on the upside is capped around 18321-18388 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 18053 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 18388.

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 18053 on downside and 18388 on upside.

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