Nifty Weekly Outlook – 22 May to 26 May,2023

Nifty did close negative for the week, and Nifty did make a bearish engulfing pattern after a rally for the past week weeks. 

18500 and 18060 are the levels to watch for NIFTY this week. NIFTY weekly pattern still remains positive, however, the hourly patterns show signs of weakness.

Nifty trading above 18350 could initiate more upside and Nifty trading below 18050 levels could take the NIFTY to 17965.

 

We maintain our weekly outlook for NIFTY to be Negative

Please check here for our Courses