Thursday 9 June 2022

Nifty Outlook for 10th Jun

 In the previous session :

Nifty went down by 112 points then went up by 136 points before closing higher by 122 points on Thursday


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 09th Jun :-

Nifty initially triggered our short trade and almost completed 2 targets doing 50+ points and took our TSL. Post that Nifty reversed to trigger our long trade and completed 2 targets doing 70 points. 

For 10th Jun :-

Sustaining above 16530 enter for 16560 - 16600 - 16690 , SL 16490

Sustaining below 16425 enter for 16395 - 16360 - 16270 , SL 16465

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 16243.85 testing our next weekly support of 16290 - 16250 and bounced back today to close at 16478.10 within our initial resistance zone. Now in the coming session Nifty has immediate resistance at 16490 - 16530 and has to break and sustain / close above it for a move towards 16600 - 16640 . On the downside Nifty has immediate next support at 16290 - 16250 on breaking and sustaining below 16330 .

Incase of a gap up beyond the first target then for fresh updated levels intraday follow the telegram channel "simplytradestocks" .

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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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