Nifty Outlook for 10th Jun

 In the previous session :

Nifty went up by 60 points then went down by 173 points before closing lower by 104 points on Wednesday.

Nifty made a new life time high of 15800.45 in this upmove from the lows of 7511.10 made on 24th March 2020

On 09th Jun :

Nifty triggered our long trade and completed 2 targets doing 30 points. Nifty then reversed to trigger our short trade and completed all targets and more doing 140+ points  

For 10th Jun :

Sustaining above 15675 enter for 15690 - 15705 - 15760 , SL 15645

Sustaining below 15595 enter for 15580 - 15565 - 15510 , SL 15625

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 15800.45 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.

Caution was advised to longs near 15790 - 15810 and today we saw Nifty make a high of 15800.45 and then correct till 15566.90 by nearly 250 points. Now Nifty has resistance again near 15710 - 15730,

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.