Nifty Weekly expiry analysis
The Nifty index has recently closed above the major trendline, indicating a potential bullish trend. However, it is important to note that the index is still within a defined range. Therefore, a cautious approach is advised. With that being said, a more optimistic outlook can be assumed if the Nifty index manages to stay above the level of 19488.
For tomorrow, the Nifty index is expected to encounter resistance at the level of 19555. This means that the market may find it challenging to surpass this level and could potentially face selling pressure. On the other hand, the level of 19400 is likely to act as a major support level. This means that if the market experiences a decline, it is expected to find significant buying interest around this level, which could potentially prevent further downside.
For tomorrow, the Nifty index is expected to encounter resistance at the level of 19555. This means that the market may find it challenging to surpass this level and could potentially face selling pressure. On the other hand, the level of 19400 is likely to act as a major support level. This means that if the market experiences a decline, it is expected to find significant buying interest around this level, which could potentially prevent further downside.
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