NIFTY IT Weekly Outlook and Analysis:

For the Week: (Dec 20,2021 – Dec 24,2021)

NIFTY IT Index closed the week on positive note gaining 708.30 points 1.97%.

Weekly High: 37,013.25

Weekly Low: 35,536.15

Weekly Close: 36,647.90

Weekly Support & Resistance For Nifty IT Index:

Technically on the daily charts we see minor support on the downside for Nifty IT index lies at 36100 levels, whereas minor resistance on the upside is capped around 37100-37200 levels.

If Nifty IT index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 35600 and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 37600.

Currently Nifty IT index is trading above 200 days exponential moving average and suggests long term trend is bullish. Equity Pandit’s analyst predicts range for the week is seen from 35700 on downside and 37500 on upside.