Nifty Outlook for 08th Jun

 In the previous session :

Nifty went up by 103 points before closing higher by 81 points on Monday.

Nifty made a new life time high of 15773.45 in this upmove from the lows of 7511.10 made on 24th March 2020

On 07th Jun :

Nifty triggered our long trade and completed all targets doing 80 points 

For 08th Jun :

Sustaining above 15775 enter for 15785 - 15805 - 15845 , SL 15755

Sustaining below 15730 enter for 15715 - 15700 - 15660 , SL 15745

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

So far this week Nifty has made a high of 15773.45 breaking above the initial resistance and also closed above it . Now sustaining above 15730 we can see a further move till 15790 - 15810 where we may see profit booking . Caution advised on holding longs once we reach these levels incase of a further upmove.

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.

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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.