Nifty Weekly Analysis for May 22-26

2023년 5월 20일

Analysis on nifty for upcoming week May 22-26:

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

In the upcoming week, it's important to monitor key levels 18060, 18065, 18090, 18105, 18250, & 18460.


My outlook:
The outlook for the upcoming week's trading appears to be non-directional, with the possibility of nifty remaining in a sideways pattern.

If nifty breaks out above 18460 with a strong and clear daily candle, it could indicate a bullish market trend.

However, if nifty breaks down below 18060 with a strong and clear daily candle, it could signify the entry of bears into the market.

As long as nifty sustains above the support level of 18060, the market can be viewed as bullish.