Weekly Spot Outlook of Nifty for 22nd Jun to 26th Jun

In the previous week : 

Nifty went down by 247 points then went up by 300 points before finally ending the week with a gain of 272 points compared to last weekly closing. 

Nifty initially triggered our short trade last week and completed our initial targets giving 150 points. For further correction Nifty had to break below 9710 which did not happen. Nifty reversed and triggered our long trade and did 227 points.

Nifty had made a new life time high of 12430 on 20th January and has since then corrected to 7511 on 24th March . 

Nifty for this week :

• Sustaining above 10335 enter for 10390 - 10435 - 10480
• Further sustaining above 10540 enter for 10580 - 10710 - 10855

• Sustaining below 10155 enter for 10100 - 10055 - 10010
• Further sustaining below 9950 enter for 9910 - 9780 - 9635

As per the levels mentioned above Nifty has immediate resistance at 10335 - 10390 zone and immediate support at 10155 - 10100 zone for this week. 

How to use these levels  

• For longs/shorts enter on breaking above the first weekly levels mentioned and hold on sustaining above /below the highlighted green/red level and look to book partly/fully once it completes its initial 3 targets . Re-enter if price again breaks above/below the further first level mentioned and hold on sustaining above/below the highlighted green/red level for next targets  . 

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Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.