Nifty Outlook for 16th Jun

 In the previous session:

Nifty went up by 38 points then went down by 86 points before closing lower by 67 points on Thursday 

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 15th Jun:

Nifty triggered our short trade and almost completed all targets doing 60 points

For 16th Jun:

Sustaining above 18720 enter for 18735 - 18755 - 18810, SL 18695

Sustaining below 18660 enter for 18640 - 18620 - 18570, SL 18680

In the Previous Week: 

Nifty confirmed our long trade above 18615 and moved till 18777 completing our weekly initial long targets and came close to our last weekly long target zone

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 18610 - 18640 to move towards its initial weekly long targets of 18715 - 18735. 

Closing above 18735 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 18520 - 18490 to move towards initial weekly short targets of 18410 - 18390

Closing below 18390 Nifty may move towards next targets of 18325 - 18250

So far this week Nifty has made a high of 18794.10 and almost touched our last weekly long target zone of 18800 - 18880 and corrected sharply to close at 18688.10 

Now in the coming session Nifty has immediate support at 18640 - 18610 and has to hold it for a bounce else breaking and sustaining below it can move towards 18570 - 18550. On the upside Nifty has resistance at 18715 - 18735 

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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.