In the previous session :
Nifty went up by 43 points then went down by 68 points before closing lower by 20 points on Friday.
Nifty made a new life time high of 15733.60 in this upmove from the lows of 7511.10 made on 24th March 2020
On 04th Jun :
Nifty triggered our long trade and completed just 1 target and took our TSL. Post that it reversed to trigger our short trade and nearly completed all targets doing 48 points
For 07th Jun :
Sustaining above 15695 enter for 15705 - 15725 - 15765 , SL 15675
Now for this week :
Nifty has immediate resistance at 15710 - 15730 zone and sustaining or closing above we may see a further move towards 15790 - 15810 zone
Nifty has immediate support at 15630 - 15610 and sustaining or closing below that we may see a move towards 15550 - 15530 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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