Nifty Weekly Outlook: Holding the Line or Breaking Below?

The Nifty 50 ended the week at 24,631.30, gaining +1.10%.

🔹 Key Levels for the Upcoming Week
📌 Price Action Pivot Zone:
24,553 to 24,710 – This is the critical zone to watch. A decisive move beyond either side may dictate next week’s trend.

🔻 Support Levels
Support 1 (S1): 24,319
Support 2 (S2): 24,007
Support 3 (S3): 23,708

🔺 Resistance Levels
Resistance 1 (R1): 24,947
Resistance 2 (R2): 25,263
Resistance 3 (R3): 25,502

📈 Market Outlook
✅ Bullish Scenario:
If Nifty sustains above 24,710, buying momentum could build, aiming for R1 (24,947). A strong breakout above this may push prices towards R2 (25,263) and R3 (25,502).
❌ Bearish Scenario:
If the index breaks below 24,553, selling pressure may return. This could drag Nifty towards S1 (24,319), and further down to S2 (24,007) and S3 (23,708).

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