Abhijit_Paul

Nifty InstaView 08 June’21: Hold onto your Lows

NSE:NIFTY1!   S&P CNX NIFTY INDEX FUTURES

Nifty View: Benchmark Nifty index shows fine resilience to hold above 15,700 with a swift bounce back from the intraday low of 15,700. Now this low at 15,700 acts as the short term support and a dip below this will most likely encourage fresh selling momentum. So it’ll be advisable to stay cautious with your long positions. No doubt we are in a very strong UP trend across all time frames backed by momentum, and so if we find ourselves below 15,700 and dipping, it’ll be more of a healthy correction in a long term UP trend. So keep up with the bullish bias and wait for better opportunities, especially in terms of price.

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