Nifty 50 Weekly Analysis: Key Levels & Trend Outlook

Weekly Recap:
The Nifty 50 closed the week at 22,552.50, marking a significant Pull back of 1.93%.

Key Weekly Levels for Next Week
Price Action Pivot Zone:
The crucial zone to watch for any potential reversals or trend continuation is between 22,477 - 22,628.

Support & Resistance Levels:

Support Levels:

• S1: 22,254
  
• S2: 21,955
  
• S3: 21,629
  

Resistance Levels:

R1: 22,854
R2: 22,157
R3: 23,410

Market Outlook:

Bullish Scenario: A sustained move above 22,628 could attract buyers, driving Nifty towards R1 at 22,854 and possibly higher.
Bearish Scenario: If 22,477 fails to hold, the market could witness further selling, driving Nifty towards S1 at 22,254 and possibly lower.