Nifty Key Level For Next Week !! Nifty Weekly Chart Analysis

Weekly Market Analysis: Nifty Closes Below 19,428

Welcome, friends, to another video of Niyuktiviti. In this week, we witnessed the Nifty closing at around 19,428. In the previous week, the Nifty closed at 19,206, and before that, it closed at 19,898. It seems that every week we are experiencing a decline of around 100 points on the weekly chart. However, let’s keep an eye on the bigger picture.

Shooting Star Candle Formation

As I mentioned before, when the shooting star candle was formed, it indicated that the shooting star band was being created. However, the shooting star band has not yet become active. In fact, none of the shooting stars have become active. This shooting star is also not active yet. In the next week, this candle has become active, and slowly the market is staying on the bearish side. Nifty has closed below its important level of 19,500. As long as it stays below 19,500, the sellers will remain strong. To strengthen the buyer’s side, Niyuktiviti needs to close above 19,645. If Nifty closes above this level, it will enter the strong buyer’s zone. Currently, it is in the hands of the sellers.

Key Levels to Watch

On the daily chart, we need to keep an eye on the level of 19,655. Until Nifty does not close above this level, the position will remain weak, and Nifty will continue to be in a weak position until it closes above 19,000. The targets below that are currently visible around 19,000. If it breaks 19,200, then a slightly bigger drop may be seen, which could take it to around 18,988. Pay attention to this level in the next week. The next week will be important for us. If Nifty starts trading by breaking the people of this week, then the first target will be around ₹90,000. If it closes below this once again, then it may trade around 19,200 and below. Keep an eye on 18,988. If there is a small pattern, as there is no significant drop in the Nifty, the drop is around 500-600 points, which we have seen here. If we look at Nifty from above, we had placed it around 20,000. If we check the high time, we can see that we have already come down from there. We are currently at 19,424. We have collected more than 500-600 points here in Nifty. If we look at Nifty, a flag pattern is forming. This flag pattern is called a bullet flag pattern. But when will it become a bull flag? For that, there is an important level, which is 19,655. Until Nifty closes above 19,655, it will not be active. Keep an eye on it because this pattern is forming, but it is currently consolidating. It is slowly falling. It may be that 19,000 is a hundred and after that, it will break out and then it will show you the old high. Nifty is visible here, but slowly, slowly, it will pass the time. I have told you the most important support, which is 19,200. Keep an eye on it. Between 19,188 and 19,000, the closing method is correct. Until then, this is fine. It will remain slightly under the control of the sellers, but there will be no significant drop here. The significant drop will be seen only when it starts closing below ₹90,000. Then a negative pattern will be ready here. On the weekly chart of Nifty, if you like the video, please like and share it. See you in the next video.

Frequently Asked Questions (FAQs)

Q1: What was the closing level of Nifty this week?

A1: The Nifty closed at around 19,428 this week.

Q2: How much decline did we witness in the previous week?

A2: In the previous week, the Nifty declined by 1206 points.

Q3: What is the important support level to watch for in Nifty?

A3: The important support level to watch for in Nifty is 19,200.

Q4: What is the significance of the shooting star candle formation?

A4: The shooting star candle formation indicates the formation of the shooting star band, which is currently not active.

Q5: What is the target level if Nifty breaks 19,200?

A5: If Nifty breaks 19,200, the target level could be around 18,988.

Q6: What is the level at which Nifty will enter the strong buyer’s zone?

A6: Nifty will enter the strong buyer’s zone if it closes above 19,645.

Q7: What is the level at which Nifty needs to close to strengthen the buyer’s side?

A7: Nifty needs to close above 19,500 to strengthen the buyer’s side.

Q8: What is the level at which Nifty needs to close to activate the bull flag pattern?

A8: Nifty needs to close above 19,655 to activate the bull flag pattern.

Q9: What is the target level if Nifty starts trading below ₹90,000?

A9: If Nifty starts trading below ₹90,000, the target level could be around 19,200 and below.

Q10: What is the current position of Nifty on the weekly chart?

A10: Currently, Nifty is consolidating and forming a flag pattern on the weekly chart.