Nifty InstaView 02 June’21: Bend but don't Break


Nifty View: Intra-day volatility continues as the benchmark Nifty manages a fine bounce back from the day’s low of 15,502. A positive sign for "Bulls" is the fact that the index has managed this bounce from an erstwhile high and so this makes 15,500 an important short term support. Strategically one should maintain a bullish stance as long as this support holds the index UP. Moving ahead on the upside, the immediate and obvious resistance to watch for is at 15,650. Because we had a fine rally recently, the index may as well decide to consolidate within a 150-200 points range before any fresh buying momentum. Maintain an overall bullish bias.

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