In the previous session :
Nifty went down by 222 points before closing lower by 153 points on Tuesday
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 07th Jun :-
Nifty triggered our short trade with a gap down below our 1st target and completed all targets doing 125+ points.
For 08th Jun :-
Sustaining above 16470 enter for 16505 - 16540 - 16640 , SL 16430
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 16347.10 breaking below our initial weekly support of 16490 - 16440 and below it at 16416.35 today. Now in the coming session Nifty has immediate resistance at 16440 - 16490 on has to break and sustain above it for a move towards 16540 - 16640 . On the downside Nifty has immediate next support at 16290 - 16250 on breaking and sustaining below 16330 .
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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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