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Nifty Spot Weekly Outlook for Jun20 -Jun 24thFalcon Analytics Outlook Nifty 50 for the Expiry week ( Jun 20 – June 24 ) Last Weekly Nifty witness selling pressure below 16057 , while the pivot for the week @ 16327 was not breached on upside. Technically for this week on the daily charts we see minor support on the downside for Nifty50 index lies at 15185 levels, whereas minor resistance on the upside is capped around 15722 levels. If Nifty50 index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major supports on lower side around 15019/14751 and and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 15888/16157 . Currently Nifty50 index is trading Below Red Line 200 day EMA @ 16673 suggests long term trend is Bearish . Range for the week is seen from 14751 on downside and 15888 on upside. Weekly Chart Suggest closing below 15100 Downward Momentum can be fast. Below Mentioned Spot Levels can be used to trade Long Or Short during the week ahead. ( All Spot Levels) RESISTANCE 4: 16425 RESISTANCE 3: 16157 RESISTANCE 2: 15888 RESISTANCE 1: 15722 WEEKLY PIVOT LEVELS: 15454 SUPPORT 1: 15185 SUPPORT 2: 15019 SUPPORT 3: 14751 SUPPORT 4: 14482 All above views for education purpose only. Regards, MD .
NSE:NIFTYShort
by miraldesai
NIFTY INDEX VIEW NIFTY WEEKLY CHART ANALYSIS -SINCE 9TH 2017 OCT 9950 HAS BEEN A CRUCIAL SUPPORT FOR THE INDEX QUIET A FEW TIMES -REMEMBER HIGHER THE TIME-FRAME STRONGER IS THE SUPPORT/RESISTANCE -WE TOOK LOT OF TIME TO BREAK ABOVE 9950 INITALLY -BUT SINCE OCT OF 2017 WE HAVEN'T GONE BELOW IT -DUE TO THE PANDEMIC THE LEVEL WAS FINALLY BROKEN IT TRAPPED SOME SHORT PLAYERS -BUT EVENTUALLY GAVE IN FIBO-LEVELS -CURRENTLY MARKET REVERSED FROM ITS 50% RETRACEMENT LEVELS ON THE INDEX -ALMOST SAME LEVELS ARE VISIBLE ON DAILY CHARTS NIFTY DAILY CHART VIEW -IF ANALYSIS ARE TRUE ON THE FIBO AND PRICE ACTION WE CAN CONFIRM THAT WE MIGHT HAVE SEEN A !!DEAD CAT BOUNCE!! -DAILY CHART SHOWS NEAR SUPPORT AT 8910-8950 AS SUPPORT ZONE -BUT SEEING THE MARKET REACTION ON MONDAY MAY CAUSE THIS SUPPORT TO BE A WEAK ONE NIFTY VIEW -PLEASE NOTE TRADE WITH CAUTION -I AM NOT USING ANY INDICATORS E.G MOVING AVG ,RSI,MACD ETC. -REASON BEING THAT THE VOLATILITY IS SO HIGH AND DAILY MOVEMENT IS CAUSING LOT OF DATA TO BECOME OBSOLETE/MEANINGLESS -THERE WAS NO ROCKET SCIENCE THAT NIFTY WOULD REVERSE FROM LEVELS OF 9950 -WE ALL KNEW IT WAS A CRUCIAL RESISTANCE TO CRACK WHICH WAS POSSIBLE ONLY BY EXTERNAL FACTORS -EXTERNAL FACTORS -NOISE FROM THE MARKET(NEWS) -DEVELOPMENT OF CURABLE DRUG/VACCINE FOR CORONA-VIRUS -STIMULUS PACKAGE BY THE GOVT. -REMEMBER EXTERNAL FACTORS MAY CAUSE THE SHIFT IN THE MARKET DYANMICS BECAUSE AS OF NOW MARKET IS ABSORBING THE NEWS GOOD OR BAD NIFTY TRADE VIEW SHORT@9350-9380 STOP@9550 TARGET-1@9120 TARGET-2@8970 PLEASE NOTE:-RATES ARE ACCORDING TO SPOT LEVELS !!PLEASE WATCH OUT FOR INTRA-DAY TRADE VIEW ON STOCKS AND INDEX FUTURES!! !!STARTING FROM TUESDAY!! !!9:30-10:00 A.M!! !!QUESTIONS ONLY AFTER MARKET HOURS!! !!HOPE TO START THIS FRESH SEGMENT ON REGULAR BASIS FROM NOW ON!! !!PLEASE PING ME FOR ANY STOCK RELATED QUERIES WILL BE AVAILABLE!!
NSE:NIFTYShort
by manavtechresearch
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