Nifty Weekly Outlook (27 May 2026 - 30 May 2026)Nifty 50 IndexNSE:NIFTYNiftyNerveLast week, Nifty faced strong rejection near the 24,600 zone, which acted as a major resistance area. The index also broke below the important 23,950 support and eventually closed near 23,900, indicating weakness in the current structure. This price action suggests sellers are active at higher levels and momentum has slightly shifted on the downside. Today marks a fresh start to the week, and we are approaching the market with a level-based perspective derived from the current structure. Opening behavior around key zones will be crucial in determining intraday direction. Staying disciplined and reacting to levels will be more important than anticipating moves. Broader Structure As Nifty has closed below 23,950, it technically opens the door for a potential move towards the 23,600–23,500 zone. Currently, there are no strong bullish confirmations in the structure, and the market continues to behave in a “sell on rise” manner. Any bounce towards resistance zones may face rejection unless supported by strong buying. Sustaining above the 24,200–24,300 zone could gradually shift sentiment, but until then, range-bound and volatile conditions between 23,900–24,300 may make trading challenging. Upside Scenario If Nifty manages to sustain above 23,950 again, it may attempt to test higher resistance levels around 24,100–24,200. Strength above this zone can improve short-term sentiment and attract momentum-based buying. However, confirmation through sustained price action is key before considering further upside continuation. Downside Scenario Below 23,950, the structure remains weak and opens downside potential towards 23,600–23,500, which is an important support zone. Immediate supports are placed near 23,800 and 23,700, where some reaction or temporary bounce can be expected. Failure to hold these levels may accelerate selling pressure. Approach We follow the market, not predict it — price action remains supreme. Staying aligned with structure and respecting levels will help in managing risk effectively. Focus on execution, not expectation, and let the market guide the trades.