Nifty Weekly Analysis 24-28 Feb Week

Last week below 12085, Nifty 50 Index made the low around 11908; it did our 2nd target on the downside. The market ended the previous week with 32 points loss.

In the previous week, we also discussed the Nifty Index would reach the critical ‘Time Cycle’ point. 

That cycle played it’s Role quite nicely & we saw the low exact on the 18th Feb and definite high on the 20th Feb.

In the coming days, Nifty 50 Index bulls need to trade & hold above 12180 for getting the strength back.

On the lower end, Index can witness weaknesses below the 12005-12000 range for the move towards 11970/11910/11800 levels.

In the forthcoming week, 25th & 28th Feb are the critical dates.

Nifty Weekly Trading Levels

Next week 12160 will act as Resistance above, which move towards 12200/12250/12350 can be seen.

While Support is likely to come at 12030 below that move towards 11990/11940/11840 can be seen.

About the author

Divesh Jotwani is a Full-time trader in the Indian stock market. He has spent over 20+ years researching and discovering WD Gann's methods and applying them day in and out markets.