Nifty 50 Market Analysis for Sep 25, 2023

 

Nifty 50 Market Analysis for September 25, 2023

The Nifty 50 index, a benchmark for the Indian stock market, is one of the most actively traded indices in the world. Here’s an analysis of the Nifty 50 for the week of September 25, 2023.

Overview

The Nifty 50 closed the previous week on a negative note, losing 2.66%. The immediate support for the Nifty 50 share price was seen at 19,489.38. If the Nifty 50 share price were to close below this immediate support, a sharp breakdown could be expected.

Resistance and Support Levels

On the positive side, the immediate resistance was seen at 20,027.23. If the Nifty 50 share price were to close above this level, a sharp breakout could be expected. The major resistance for the Nifty 50 share price for the week was seen at 20,380.22.

The trading range for the Nifty 50 share price for the week was expected to be between 18,951.53 on the downside and 20,565.08 on the upside.



Previous Week’s Performance

The Nifty 50’s previous week high was 20,195.35, and the low was 19,657.5. The range for the previous week was 537.85 points.

Support and Resistance for the Week

Here are the support and resistance levels for the Nifty 50 for the week of September 25, 2023:

  • Resistance 3: 20,565.08
  • Resistance 2: 20,380.22
  • Resistance 1: 20,027.23
  • Support 1: 19,489.38
  • Support 2: 19,304.52
  • Support 3: 18,951.53

Conclusion

The Nifty 50’s performance is a key indicator of the Indian stock market’s health. As of September 25, 2023, the index was facing some resistance, but if it could break through the 20,027.23 level, a sharp breakout could be expected. On the other hand, if it were to fall below the 19,489.38 support level, a sharp breakdown could be seen. Investors and traders are advised to keep these levels in mind when planning their strategies for the week.

Disclaimer: This blog is for informational purposes only and should not be taken as investment advice. Always conduct your own research before making any investment decisions.

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