Nifty Outlook for 01st Jun

 In the previous session:

Nifty went down by 150 points before closing lower by 99 points on Wednesday 

Nifty made a new lifetime high of 18887.60 on 01st Dec 2022 from the lows of 7511.10 made on 24th March 2020

On 31st May:

Nifty triggered our short trade and completed all targets and more doing 90+ points

For 01st Jun:

Sustaining above 18565 enter for 18585 - 18610 - 18665, SL 18545

Sustaining below 18500 enter for 18485 - 18460 - 18410, SL 18525

In the Previous Week: 

Nifty confirmed our long trade on closing above 18275 and completed all weekly long targets till 18425 - 18490 with a high of 18508.55

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 18560 - 18600 to move towards its initial weekly long targets of 18700 - 18725. 

Closing above 18725 Nifty may move towards its last weekly long targets of 18810 - 18910

On the downside:

Nifty has to sustain and close below its weekly support at 18440 - 18400 to move towards initial weekly short targets of 18300 - 18275

Closing below 18275 Nifty may move towards next targets of 18190 - 18090

So far this week Nifty has made a high of 18662.45 breaking above our weekly resistance zone of 18560 - 18600 and reversed today to make a low of 18483.85 and closed at 18534.40 .

Now in the coming session Nifty has immediate resistance at 18560 - 18600 and has to sustain above it for a move towards 18700 - 18725 and complete its initial weekly long targets. On the downside Nifty sustaining below 18560 can move towards 18450 - 18400 where it has immediate support.

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Disclaimer: I am not SEBI registered and these are my personal views and one should do their own research or consult a financial advisor 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.