Falcon Analytics Outlook Nifty 50 for the Expiry week ( Jun 27 – July 01 )
Last Weekly Nifty witness resistance @ 15722 , while the pivot @ 15454 was held almost throughout the week.
Technically for this week on the daily charts minor support on the downside for Nifty50 index lies at 15546 levels,
whereas minor resistance on the upside is capped around 16104 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 15333/15201 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 16314/16447.
Currently Nifty50 index is trading Below Red Line 200 day EMA @ 16609 suggests long term trend is Bearish.
Range for the week is seen from 15387 on downside and 16104 on upside.
Weekly Chart Suggest closing below 15454 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: 16317
RESISTANCE 3: 16104
RESISTANCE 2: 15891
RESISTANCE 1: 15759
WEEKLY PIVOT LEVELS: 15546
SUPPORT 1: 15333
SUPPORT 2: 15201
SUPPORT 3: 14988
SUPPORT 4: 14775
All above views for education purpose only.
Regards,
MD .
Last Weekly Nifty witness resistance @ 15722 , while the pivot @ 15454 was held almost throughout the week.
Technically for this week on the daily charts minor support on the downside for Nifty50 index lies at 15546 levels,
whereas minor resistance on the upside is capped around 16104 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 15333/15201 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 16314/16447.
Currently Nifty50 index is trading Below Red Line 200 day EMA @ 16609 suggests long term trend is Bearish.
Range for the week is seen from 15387 on downside and 16104 on upside.
Weekly Chart Suggest closing below 15454 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: 16317
RESISTANCE 3: 16104
RESISTANCE 2: 15891
RESISTANCE 1: 15759
WEEKLY PIVOT LEVELS: 15546
SUPPORT 1: 15333
SUPPORT 2: 15201
SUPPORT 3: 14988
SUPPORT 4: 14775
All above views for education purpose only.
Regards,
MD .
