Nifty Weekly Analysis For the Week 17-21 June

Last week, above 11966 Nifty failed to did our any weekly target on the upside. Nifty made high on 11th June, the date which 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 have critical Natural Cycle date from 19 to 21st June.

Nifty Weekly Analysis

Nifty Hourly Chart

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 11950 resistance level.

Nifty Daily Chart

As per the Nifty Daily Chart, on Friday it breaks the angle and that too on closing basis.

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

Nifty Weekly Chart

Nifty Weekly Analysis For the Week 17-21 June

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

While Supports are likely to come at, 11790 below that move towards 11735/11650/11550 can come.

Note: Above mention price projection & other Information are for educational purpose only.

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.