Nifty Analysis for 1st July 2021

TheNoobDayTrader Updated   
NSE:NIFTY   Nifty 50 Index
Nifty opened gap up on 30th June and above the trend line which I have drawn, tested 15800 at the beginning and went to test it's resistance level of 15835.
For 2 hours Nifty stayed sideways and after that selling came. Now 15835 to 15845 become a Major Resistance for nifty.

So what to expect for 1st July 2021?
Nifty may open gap down or flat on 1st July 2021.
Should you be shorting tomorrow?
NO. Nifty may open gap down but due to profit booking it will reverse back from it's Support Zone. Which is 15673 and 15648 and. Tomorrow Nifty may again test it's Resistance of 15800 to 15835.

1st July is weekly expiry of Options, as seen earlier nifty may stay sideways like today for most of the time.
Around 12.30 to 1.30 you may see move in nifty.

Nifty will be in downtrend only if it goes below the trend line. Otherwise nifty will be in sideways.

Global market view: European market is negative, Asian market is in positive and US market is slightly positive.
Trade closed: target reached


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