In the previous session :
Nifty went doown by 140 points then went up by 26 points before closing lower by 14 points on Monday
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 06th Jun :-
Nifty triggered our short trade and completed 2 targets doing 70 points.
For 07th Jun :-
Sustaining above 16620 enter for 16650 - 16690 - 16780 , SL 16585
Now for this week :
On the upside :
Nifty has to sustain and close above 16670 - 16730 where it has its initial resistance to move towards next targets of 16880 - 16920 .
Closing above 16920 Nifty may move towards further targets of 17050 - 17190.
On the downside :
Nifty has to sustain and close below 16490 - 16440 where it has its initial support to move towards next targets of 16290 - 16250 .
Closing below 16250 Nifty may move towards further targets of 16130 - 15980 .
So far this week Nifty made a low of 16444.55 testing our initial weekly support of 16490 - 16440 and bounced back to close at 16569.55 today. Now in the coming session Nifty has immediate support at 16490 - 16440 on dips and resistance at 16670 - 16730 on the upside.
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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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