Last week, above 11960 Nifty did our 2nd weekly target on the upside. Later in the week on Friday it went below 11840 & did our 1st target on the downside.
Nifty Weekly Analysis
Nifty Hourly Chart
On the Nifty hourly chart, Bulls need to trade above 11935 for the move towards 11985/12075 levels.
Bears need to sustain below 11800 for the further downside move.
Nifty Daily Chart
As per the Nifty Daily Chart, on Friday low was made near the angle line.
Closing below, it can show a further drop of 120-180 points, and it will also show short-term weakness in the market.
Nifty Weekly Chart
Nifty Weekly Analysis For the Week 10-14 June
In the forthcoming week, 11 & 13th June are the critical dates.
Next week 11966 will act as Resistance above which move towards 12015/12085/12190 price level can come.
On the Support side, 11800 will work as support & below that move towards 11750/11680/11580 can come.
Note: Above mention price projection & other Information are for educational purpose only.
Below 15735-760 zone Nifty Index is weak and can drop more. On the downside, the 15520-499 zone is the important Gann level zone, where Index
Even after a strong weekly close, Nifty & Bank Nifty opened gap down. Both tried to recover, made high near Gann levels, which we discussed