In the previous session :
Nifty went up by 134 points before closing higher by 103 points on Thursday.
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 24th Jun :
Nifty triggered our long trade and completed all targets and a bit more doing 100 points.
For 25th Jun :
Sustaining above 15825 enter for 15840 - 15855 - 15900 , SL 15795
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 of 15830 - 15850 . Now once more as long as Nifty holds above 15730 we can see it attempt to move back towards 15850 - 15900 and breaking and sustaining below 15730 so we may see a move back towards 15640 - 15590 .
Had mentioned a few days ago "Overall in the coming sessions Nifty has to hold its support at 15430 - 15340 on corrections for a resumption of upmove for this expiry ", and we saw Nifty make a low 15450 and bounce back towards 15850 levels by expiry.
Nifty needs to give a close above 15850 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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