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Nifty Index Weekly Outlook and Analysis:

For the Week: (July 24, 2023 – July 28, 2023)

Nifty Outlook for the Week (July 24, 2023 – July 28, 2023)

Weekly High: 19,991.85

Weekly Low: 19,562.95

Weekly Close: 19,745

Weekly Support & Resistance For Nifty Index:

Technically on the daily charts we see minor support on the downside for nifty 50 index lies at 19,550 levels, whereas minor resistance on the upside is capped around 19,900-19,950 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 19,350 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 20,100.

Currently nifty 50 index is trading above 200 days exponential moving average and suggests long term trend is bullish. EquityPandit’s analyst predicts range for the week is seen from 19,450 on downside and 20,000 on upside.