The Nifty ended Friday’s session at a very crucial technical level, which makes the coming week particularly important for market direction. The index has been showing signs of weakness after a sharp rally, and the 24350 level has now emerged as a key support zone. If Nifty fails to sustain below this level, it could open the doors for further downside. The next major support is placed around 24000–23800, which also coincides with previous demand zones and moving average clusters.
Traders should note that the market sentiment next week will be critical. A sustainable bounce from the current level could re-establish bullish momentum and keep the uptrend intact. However, a decisive breakdown below 24350 may trigger profit booking and a short-term trend reversal toward lower levels.
Overall, next week could act as a make-or-break zone for the Indian market, as price action around these levels will decide whether we continue higher or witness a deeper correction.
Traders should note that the market sentiment next week will be critical. A sustainable bounce from the current level could re-establish bullish momentum and keep the uptrend intact. However, a decisive breakdown below 24350 may trigger profit booking and a short-term trend reversal toward lower levels.
Overall, next week could act as a make-or-break zone for the Indian market, as price action around these levels will decide whether we continue higher or witness a deeper correction.
Penafian
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.