Nifty Outlook for 15th Jun

 In the previous session :

Nifty went down by 193 points then went up by 24 points before closing higher by 12 points on Monday.

Nifty made a new life time high of 15835.55 in this upmove from the lows of 7511.10 made on 24th March 2020

On 14th Jun :

Nifty triggered our short trade and completed all targets and more doing 150 points.

For 15th Jun :

Sustaining above 15840 enter for 15855 - 15870 - 15920 , SL 15820

Sustaining below 15785 enter for 15770 - 15750 - 15705 , SL 15805

Now for this week :

Nifty has immediate resistance at 15840 - 15890 zone and sustaining or closing above we may see a further move towards 15940 - 15960 zone

Nifty has immediate support at 15755 - 15710 and sustaining or closing below that we may see a move towards 15660 - 15640 zone

So far this week Nifty made a low of 15606.50 breaking below our next support zone but bounced back strongly to close back above 15800 levels. Now in the coming session Nifty has to break above the immediate resistance zone of 15840 - 15890 to move up further towards 15940 - 15960 zone.

Caution advised on entering fresh longs once we reach the levels of 15890 - 15960 on further upmoves.

As mentioned earlier "Now as long as Nifty is closing above 15560 on corrections we can see it bouncing back and closing below 15560 we may see a further correction till 15250 - 15300 levels", Nifty made a low of 15606.50 and we saw a sharp bounce.

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.