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Nifty Weekly Analysis 24-28 Feb Week

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Updated On:

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 a 32-point loss.

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

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

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

On the lower end, the 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.

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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.