Nifty Outlook for 03rd Jun

 In the previous session :

Nifty went down by 115 points then went up by 22 points before closing higher by 1 points on Wednesday.

Nifty made a new life time high of 15660.75 in this upmove from the lows of 7511.10 made on 24th March 2020

On 02nd Jun :

Nifty triggered our short trade and completed 2 target doing 60 points 

For 03rd Jun :

Sustaining above 15620 enter for 15640 - 15655 - 15715 , SL 15585

Sustaining below 15530 enter for 15515 - 15500 - 15435 , SL 15565

Now for this week :

Nifty has immediate resistance at 15510 - 15560 zone and sustaining or closing above we may see a further move towards 15680 - 15720 zone

Nifty has immediate support at 15360 - 15315 and sustaining or closing below that we may see a move towards 15190 - 15155 zone

So far this week Nifty made a high of 15660.75 and closed above our initial weekly resistance and now as long as its sustaining above 15560 we can see Nifty make a move towards 15680 - 15720 next where we may see some resistance.

Now as long as Nifty is closing above 15270 on corrections we can see it bouncing back . On the upside Nifty can see some selling pressure near 15650 - 15670 .

As mentioned for the month of May "On the upside Nifty has strong resistance at 14850 - 14980 and it needs to give a consecutive close above it for further upmove.", we saw Nifty make a high of 15606.35 on giving a consecutive close above 14980 .

In the month of May Nifty made a high of 15606.35 and made a low of  14416.25 .

For the month of June Nifty has to give a consecutive close above 15825 for the upmove to gain strength. On the downside Nifty has to give a consecutive close below 15340 for a stronger correction.

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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.