In the previous session :
Nifty went up by 64 points then went down by 145 points before closing lower by 62 points on Wednesday
Nifty made a new life time high of 18604.45 in this upmove from the lows of 7511.10 made on 24th March 2020
On 01st Jun :-
Nifty initially triggered our short trade but missed out 1st target by 9 pts .
For 02nd Jun :-
Sustaining above 16600 enter for 16645 - 16695 - 16840 , SL 16545
Now for this week :
On the upside :
Nifty has to sustain and close above 16520 - 16630 where it has its initial resistance to move towards next targets of 16900 - 16980 .
Closing above 16980 Nifty may move towards further targets of 17210 - 17490.
On the downside :
Nifty has to sustain and close below 16180 - 16080 where it has its initial support to move towards next targets of 15800 - 15720 .
Closing below 15720 Nifty may move towards further targets of 15480 - 15210 .
So far this week Nifty made a high of 16695.50 breaking above our initial resistance zone and closed today at 16522.75. Now in the coming session Nifty has immediate support at 16430 - 16350 on dips and below that near 16200 . On the upside Nifty has resistance at 16650 - 16700 which it needs to break and close above for a further move towards 16800 - 16950 .
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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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