Nifty 50 Weekly Analysis: Key Levels & Trend Outlook

Weekly Recap:
The Nifty 50 closed the week at 22,904.45, marking a significant decline of -2.61%.

Key Weekly Levels for Next Week
Price Action Pivot Zone:

The crucial zone to watch for any potential reversals or trend continuation is between 22,829 and 22,980

Support & Resistance Levels:
Support Levels:

• S1: 22,609
  
• S2: 22,303
  
• S3: 21,928
  

Resistance Levels:

• R1: 23,209
  
• R2: 23,513
  
• R3: 23,870
  

Market Outlook:

Bullish Scenario: A sustained move above 22,980 could attract buyers, driving Nifty towards R1 at 23,209 and possibly higher.
Bearish Scenario: If 22,829 fails to hold, the market could witness further selling, driving Nifty towards S1 at 22,609 and possibly lower.

Disclaimer: This analysis is for educational purposes only and does not constitute financial advice. Please conduct your own research or consult a financial advisor before making any trading decisions.