Nifty Outlook for 24th Jun

 In the previous session :

Nifty went up by 90 points via a gap up then went down by 99 points before closing lower by 85 points on Wednesday.

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 23rd Jun :

Nifty opened near our last daily target and did not give a chance to enter a long trade. Post that Nifty reversed to trigger our short trade and completed all targets doing 65 points

For 24th Jun :

Sustaining above 15720 enter for 15730 - 15745 - 15790 , SL 15695

Sustaining below 15655 enter for 15645 - 15630 - 15585 , SL 15680

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 next resistance zone but failed to close above it. Nifty has broken and closed below 15730 so we may see a move back towards 15640 - 15590 .

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 above 15830 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.