Nifty Weekly Analysis for Jul 17 - 21

2023년 7월 16일

🔍 Analysis on Nifty for the Upcoming Week 🔮

Jul 17 - 21

The Nifty index seems to exhibit a bullish trend in both long-term & short-term as well, according to the market structure.

📈 Key Levels to Monitor:
In the upcoming week, it's important to monitor key levels 19190, 19200, 19330, 19600.


🔎My outlook:
The outlook for the upcoming week’s trading suggests a non-directional view (Sideways).

📈 Bullish Scenario:
If Nifty breaks out above the significant level of 19600, supported by a strong and clear daily candle, it could indicate a bullish market trend.

📉 Bearish Scenario:
However, if Nifty breaks down below 19190, confirmed by a strong and clear daily candle, it may signal a decline towards the 18890level.

📊 Support Level:
As long as Nifty sustains above the support level of 19190, the market can be viewed as bullish.