Nifty Outlook for 20th Jun

 In the previous session:

Nifty went up by 55 points then went down by 106 points before closing lower by 70 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 19th Jun:

Nifty triggered our short trade and completed 2 targets and more doing 70 points

For 20th Jun:

Sustaining above 18790 enter for 18810 - 18835 - 18900, SL 18765

Sustaining below 18720 enter for 18700 - 18675 - 18610, SL 18745

In the Previous Week: 

Nifty confirmed our weekly long trade above 18640 and almost completed all weekly long targets till 18800 - 18880 with a high of 18864.70 giving 220 points 

Now for this week:

On the upside:

Nifty has to sustain and close above its weekly resistance at 18880 - 18915 to move towards its initial weekly long targets of 19000 - 19025. 

Closing above 19025 Nifty may move towards its last weekly long targets of 19100 - 19190

On the downside:

Nifty has to sustain and close below its weekly support at 18770 - 18740 to move towards initial weekly short targets of 18650 - 18625

Closing below 18625 Nifty may move towards its last weekly short targets of 18550 - 18470

Today Nifty made a high of 18881.45 testing our weekly resistance zone of 18880 - 18915 and corrected to make a low 18719.15 breaking our weekly support zone of 18770 - 18740 but closed at 18755.45

Now in the coming session Nifty on breaking and sustaining below 18740 can move towards its initial weekly short targets of 18650 - 18625. On the upside Nifty has immediate resistance at 18880 - 18915 and unless sustains or closes above this zone Nifty will keep facing selling pressure.

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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.