Nifty Outlook for 01st Jul

 In the previous session :

Nifty went down by 70 points then went up by 90 points before closing lower by 19 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 30th Jun :-

Nifty initially triggered our short trade and took our stoploss. Post that Nifty recovered to trigger our long trade and again took our stoploss indicating indecisiveness. 

For 01st Jul :-

Sustaining above 15835 enter for 15870 - 15905 - 16000 , SL 15795

Sustaining below 15725 enter for 15695 - 15655 - 15550 , SL 15765

Now for this week :

On the upside :

Nifty has to sustain and close above 15820 - 15890 where it has its initial resistance to move towards next targets of 16080 - 16130 . 

Closing above 16130 Nifty may move towards further targets of 16300 - 16480 .

On the downside :

Nifty has to sustain and close below 15580 - 15510 where it has its initial support to move towards next targets of 15320 - 15270 . 

Closing below 15270 Nifty may move towards further targets of 15100 - 14920 .

So far this week Nifty has made a high of 15927.45 breaking above initial weekly resistance zone of 15820 - 15890 and went down to make a low of 15687.80 and closed at 15780.25  below the initial resistance zone . Now in the coming session Nifty has immediate support at 15700 and breaking and sustaining below it Nifty can move towards its initial weekly support zone of 15580 - 15510 . On the upside Nifty has immediate resistance at 15870 and has to break and sustain above it to move towards its next weekly resistance zone of 15950 - 16000. 

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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.