Nifty Energy Outlook for the Week (Aug 17,2020 – Aug 21,2020)

RESISTANCE 1.
15,639.

Technically on the everyday charts we see small support on the downside for NIFTY ENERGY index lies at 15000 levels, whereas small resistance on the benefit is topped around 15650-15700 levels.

For the Week: (Aug 17,2020– Aug 21,2020).

AWESOME ENERGY Index closed the week on unfavorable note losing 103.10 points 0.67%.

Weekly Close: 15,394.95.

Weekly Low: 15,282.10.

If NIFTY ENERGY index breaches minor assistance on the drawback and closes below it, we might see fresh break down and index can drag towards major support on lower side around 14800 and if breaches minor resistance on the benefit and closes above it, we might see fresh breakout and index can head towards higher levels around 15900.

Weekly High: 15,705.30.

SUPPORT 1.
15,216.

COOL ENERGY index has witness sideways restorative action on day-to-day charts. Index will likely to sell range until it dragged below 15000 levels on downside.

Weekly Support & & Resistance For Nifty Energy Index:.

RESISTANCE 2.
15,883.

SUPPORT 2.
15,037

Currently NIFTY ENERGY index is trading above 200 days rapid moving typical and suggests long term pattern is bullish. EquityPandits analyst predicts range for the week is seen from 15000 on drawback and 15800 on benefit.

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