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Nifty Weekly Analysis For the Week 10-14 June

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Last week, above 11960, Nifty achieved our second weekly target on the upside. Later in the week, on Friday, it went below 11840 and achieved our first target on the downside.

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.

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 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 a move towards the 12015/12085/12190 price level can occur.

On the Support side, 11800 will work as support, and below that, a move towards 11750/11680/11580 can come.

Note: Above mention 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.