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Nifty Weekly Analysis For the Week 17-21 June

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Updated On:

Last week, above 11966, Nifty failed to meet our weekly target on the upside. Nifty made its high on 11 June, the date we discussed in our last-week analysis.

From there, Nifty corrected to 11800 levels. Nifty ended with a minor loss of 47.35 points weekly.

In the coming week, we have a critical Natural Cycle date from 19 to 21st June.

On the hourly chart, Bears need to trade below 11800 levels for further downside towards 11730/11650 levels.

Nifty Bulls will get the chance only above the 11950 resistance level.

According to the Nifty Daily Chart, on Friday, it broke the angle, and that too on a closing basis.

So we can expect a further fall in Nifty towards the 11700/11580 levels, where it can find support.

Nifty Weekly Analysis For the Week 17-21 June

Next week, 11920 will act as Resistance above, which moves towards 11970/12030/12110 can come.

While Support is likely to come at 11790, below that, a move towards 11735/11650/11550 can occur.

Note: The above-mentioned price projection & other Information are for educational purposes only.

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About the Author

Divesh Jotwani is a Full-time trader in the Indian stock market. He has spent over 20+ years researching and discovering WD Gann's methods and applying them day in and out markets.