- The Nifty 50 benchmark index opened on a flat note, but persistent selling pressure in the latter part of the week led to a negative weekly close, indicating profit booking and cautious sentiment among investors.
- From a technical perspective on the daily timeframe, the index is trading below the 20 EMA while holding above the 50, 100, and 200 EMAs, reflecting a cautious undertone in the market. Additionally, the RSI stands at 48.75 and is trending downward, indicating weakening momentum
- On the weekly timeframe, the index has witnessed clear profit booking over the past two weeks. The key support level to watch is 25000 — as long as this level holds, the broader view remains positive. On the upside, resistance is placed at 25,300 and 25,500, while immediate support levels are seen at 25,000 and 24,800.
| LTP | R1 | R2 | S1 | S2 |
|---|---|---|---|---|
| 25,149.85 | 25,500 | 25,650 | 25,000 | 24,800 |
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