NIFTY 50 VIEW FOR 4TH JUNE,2020NIFTY 50 respected both the levels as I had posted in my previous post. It ranged between 10040-10169./
Today the index opened with a significant gap up above 10100. It was however not able to hold those gains and end of day,it closed below 10100.
A close below 10000 and we could have seen a fall tomorrow. 10000 is a key psychological level and tomorrow it will be a interesting expiry day.
If Nifty is able to breakout above 10700 level, I think then we can see a possible upside towards the previous trendline. (See 5 Min Chart Image below)
Above that, bulls may be looking to break 10169 which was a level I had mentioned in my previous post.Today that level got tested but was not sustain and we saw a fall towards 10035.
Take a look at today's 5 min Chart and analyse the movements :
The day's low was broken and we saw a good fall towards 10035.
10030-10040 is also an important level as can be seen in the daily chart I've posted.
Everything else I have mentioned in the chart.
On the downside,key levels to watch out for are 9995 or the psychological 10k. If even that is broken we might see a fall towards 9930 and then towards 9887.
75 Min Chart :
240 Min Chart :
NSE:NIFTY
This analysis is for learning purposes and if anyone has something to add on or if you spot a mistake,do write it in the comments. All kind of suggestions are welcome!
This is just my viewpoint and please do not take trades based on this. I do not mention specific targets or stop losses as I don't trade FnO segment.
