Thursday 3 June 2021

Nifty Outlook for 04th Jun

 In the previous session :

Nifty went up by 129 points before closing higher by 114 points on Thursday.



Nifty made a new life time high of 15705.10 in this upmove from the lows of 7511.10 made on 24th March 2020



On 03rd Jun :

Nifty triggered our long trade and nearly completed all targets doing 85 points 

For 04th Jun :

Sustaining above 15710 enter for 15725 - 15740 - 15775 , SL 15695

Sustaining below 15670 enter for 15655 - 15640 - 15605 , SL 15685


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 15705.10 and tested our next weekly resistance and targets above 15560 . We are expecting to see some resistance here on between 15720 - 15830 zone .

Now as long as Nifty is closing above 15340 on corrections we can see it bouncing back . 

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.

Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks" .

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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. 

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