Nifty Outlook for 06th Jun

 In the previous session:

Nifty went up by 106 points before closing higher by 59 points on Monday 

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 05th Jun:

Nifty triggered our long trade by opening above our 2nd long target and did not give a chance to trade.

For 06th Jun:

Sustaining above 18625 enter for 18645 - 18670 - 18725, SL 18605

Sustaining below 18560 enter for 18545 - 18520 - 18460, SL 18585

In the Previous Week: 

Nifty confirmed our long trade on closing above 18600 and but did not complete any targets and took our stoploss

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 18585 - 18615 to move towards its initial weekly long targets of 18700 - 18725. 

Closing above 18725 Nifty may move towards its last weekly long targets of 18800 - 18880

On the downside:

Nifty has to sustain and close below its weekly support at 18485 - 18450 to move towards initial weekly short targets of 18365 - 18345

Closing below 18345 Nifty may move towards next targets of 18270 - 18190

So far this week Nifty has made a high of 18640.15 breaking above its weekly resistance zone of 18585 - 18615 and closed at 18593.85.

Now in the coming sessions Nifty has to sustain/close above 18615 to move towards its initial weekly long targets of 18700 - 18725. On the downside Nifty has immediate support at 18560 and sustaining below it can move towards 18485 - 18450

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

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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.