Sunday 7 June 2020

Weekly Spot Outlook Of Nifty for 08th to 12th Jun

In the previous week : 

Nifty went up by 598 points before finally ending the week with a gain of 562 points compared to last weekly closing. 

Nifty triggered our long trade last week and did 470 points  



Nifty had made a new life time high of 12430 on 20th January and has since then corrected to 7511 on 24th March . 



Nifty for this week :

  • Sustaining above 10210 enter for 10250 - 10285 - 10320
  • Further sustaining above 10365 enter for 10395 - 10495 - 10605


  • Sustaining below 10075 enter for 10035 - 10000 - 9965
  • Further sustaining below 9915 enter for 9890 - 9790 - 9680

As per the levels mentioned above Nifty has immediate resistance at 10210 - 10250 zone and immediate support at 10075 - 10035 zone for this week. 




How to use these levels  
  • For longs/shorts enter on breaking above the first weekly levels mentioned and hold on sustaining above /below the highlighted green/red level and look to book partly/fully once it completes its initial 3 targets . Re-enter if price again breaks above/below the further first level mentioned and hold on sustaining above/below the highlighted green/red level for next targets  . 




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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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