Nifty Energy Outlook for the Week Sept 28,2020 – Oct 01,2020

AWESOME ENERGY Index closed the week on unfavorable note losing 950.80 points 6.03%.

Technically on the daily charts we see small support on the drawback for NIFTY ENERGY index lies at 14450 levels, whereas minor resistance on the benefit is capped around 15100-15200 levels.

SUPPORT 2.
13,742

Weekly Low: 14,492.30.

Weekly Close: 14,826.30.

Currently NIFTY ENERGY index is trading above 200 days exponential moving typical and suggests long term trend is bullish. EquityPandits expert anticipates variety for the week is seen from 14200 on downside and 15400 on advantage.

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SUPPORT 1.
14,284.

RESISTANCE 2.
16,325.

For the Week: Sept 28,2020– Oct 01,2020).

If NIFTY ENERGY index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major assistance on lower side around 14000 and if breaches small resistance on the upside and closes above it, we might see fresh breakout and index can head towards higher levels around 15600.

RESISTANCE 1.
15,576.

Weekly Support & & Resistance For Nifty Index:.

COOL ENERGY index has given breakdown of its trading in range on day-to-day charts. Index handle to close above its 200 day ema at fag end of the week. We anticipate index most likely to continue this sag if index unable to hold its 200 day ema.

Weekly High: 15,784.