Monday 21 June 2021

Nifty Outlook for 22nd Jun

 In the previous session :

Nifty went down by 178 points then went up 82 points before closing higher by 63 points on Monday.



Nifty made a new life time high of 15901.60 in this upmove from the lows of 7511.10 made on 24th March 2020



On 21st Jun :

Nifty opened well below our last short target and did not give a chance to enter a short trade. Post that Nifty reversed to trigger our long trade and completed 2 targets doing 45 points. 

For 22nd Jun :

Sustaining above 15785 enter for 15800 - 15815 - 15865 , SL 15755

Sustaining below 15710 enter for 15695 - 15680 - 15630 , SL 15740


Now for this week :

Nifty has immediate resistance at 15730 - 15780 zone and sustaining or closing above we may see a further move towards 15830 - 15850 zone

Nifty has immediate support at 15640 - 15590 and sustaining or closing below that we may see a move towards 15540 - 15510 zone

So far this week Nifty has made a low of 15505.65 testing our next support zone and bounced back sharply to test our initial resistance zone and also closed within it. Now Nifty has to break and sustain above 15780 to move up towards 15830 - 15850 .

Overall in the coming sessions Nifty has to hold its support at 15430 - 15340 on corrections for a resumption of upmove for this expiry . 

Nifty needs to give a close below 15780 for a move towards a new high.

In the month of May Nifty made a high of 15606.35 and made a low of  14416.25 .


Had mentioned at the start of the June series "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." , Nifty failed to give a consecutive close above 15825 after making a high of 15901.60 and we saw a sharp dip till 15450.90. 

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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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