Nifty Premium Analysis For The Upcoming Week ( 21st-25th June, 2021)
As on Friday we saw that Nifty fall sharply in the morning and made a low of 15450 after that a sharp recovery from 15450 up to 15729 means approx 280 points recovery from the low which is already an unexpected move.
Both Bear and Bull trap on the same day. But who won the battle is not clear on Friday. Now we will discuss what will be the possibility on Monday and on the next week.
Nifty CMP is 15683 and the resistance level for the market is 15770 as drawn on the chart above. If Nifty breaks it and tries to sustain above this level then only we can say that it has entered to bullish zone again. If we talk about the Support area then 15350-15450 is a very strong support zone. Do not enter blindly on the support area until you get a reversal sign.
With the opening of the Market on Monday, there is a high possibility of Gap Down as Dow is also closed 533 points down. In the next week, we may see that market become sideways upto Tuesday or Wednesday. Or it will also a possibility that the market remains sideways the whole week but this can not say exactly right now it will clear by market only in the first two days. But the levels given above are very important to work both sides.
Upto the next clarification from the market keep your quantity low or you can also avoid the market. On Telegram Channel we are connected with you for further updates as we told you to avoid buy position on 17th June when nifty was 15736 level after that you saw a sharp fall.
Disclaimer: This Chart Study is based on the theory of technical analysis and personal observations. This does not claim for Profit & Loss.
We are not responsible for any profit or losses made by traders and investors. It is only the outlook of the market with reference to its previous performance.
All information is a point of view and is for educational and informational use only. All Judicial you are advised to take your position with your sense and judgment.
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