Rakesh_Dave

NIFTY 50 ANALYSIS for Monday - 07 JUN 21 and Overall

NSE:NIFTY   Nifty 50 Index
- On Weekly timeframe , Nifty 50 has given breakout on upside of the Flag and has resumed on Uptrend.
- Has broke the all time high recently and overall it is ** BULLISH **. No Major Down trend signals yet.


- On Daily Time frame, Nifty 50 has taken a halt and has shown a red candle on last Friday (04 Jun 2021).
- Nifty seems **BEARISH ** for Monday session and might come down to 15550 levels to take another support , before resuming upwards.

If the 15500 levels are broken by NIFTY 50 , we can expect a Major trend reversal and expect Nifty to continue in downtrend.

Overall Verdict.

- Mildly Bullish on Major time frame.
- For Monday, the trend seems bearish .

Major Support and Resistance Levels :

Major Support : 15550 - 15570 Levels
Major Resistance : 15700 - 15730 levels.


****DISCLAIMER:****
** The above Analysis is only for your understanding and for your knowledge.
** Trading is risky and one should always do their own research and take advise of experts if required before taking any trades.

Wish you a good health and success!!

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