- The NIFTY index began the week on a subdued note at 24,732.35, following a sharp gap-down on the previous Friday amid heightened tensions between Iran and Israel. However, buying interest emerged during the week, pushing the index higher and helping it close on a strong note at 25,112.40, registering a weekly gain of 1.59%.
- On the daily chart, Nifty formed a strong bullish candle in the last trading session, reflecting renewed buying momentum. The index also ended the week above its 20-day and 50-day EMAs, signaling a positive trend in the near term.
- The overall outlook remains bullish as long as Nifty holds above 24,800. Key support levels to watch are 25,000 and 24,800, while resistance is seen at 25,300 and 25,500.
| LTP | R1 | R2 | S1 | S2 |
|---|---|---|---|---|
| 24,853.15 | 25,000 | 25,100 | 24,500 | 24,200 |
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