Nifty 50 Weekly Outlook ( 3rd Aug to 7th Aug 2026 )Nifty 50 IndexNSE_DLY:NIFTYALICEBLUEThe Nifty 50 Index closed the week at 24,383.60, surging +616.15 points (+2.59%), reflecting a strong bullish breakout and renewed buying momentum. The index has reclaimed the key price action pivot zone, indicating that the broader uptrend remains intact. 🔹 Key Levels for the Upcoming Week 📌 Price Action Pivot Zone (24,334–24,368) This blue-shaded area is the key weekly decision zone. As long as Nifty holds above this range, the bullish structure remains strong. Sustaining above the pivot could lead to further upside, while a breakdown below it may trigger short-term profit booking. 🔻 Support Levels S1: 24,270 S2: 24,189 S3: 24,089 🔺 Resistance Levels R1: 24,458 R2: 24,580 R3: 24,725 📈 Market Outlook ✅ Bullish Scenario: If Nifty sustains above the Price Action Pivot Zone (24,334–24,368) and breaks above R1 (24,458), bullish momentum could strengthen toward R2 (24,580). A sustained breakout above this level may extend the rally toward R3 (24,725). ❌ Bearish Scenario: If the index slips below the 24,334 support zone, selling pressure could drag Nifty toward S1 (24,270). A decisive break below this level may lead to a decline toward S2 (24,189) and eventually S3 (24,089). Disclaimer: https://aliceblueonline.com/legal-documentation/disclaimer