Nifty Weekly Forecast For 03-07th June

Last week,above 11885 resistance, Nifty did our 2nd weekly target of 12020 levels.

In the coming week, we have RBI Policy on 06th June, which can act as a critical driving factor for the market.

Nifty Weekly Forecast For 03-07th June

Hourly Chart

On Nifty hourly chart, Bulls are making strong support in the zone of 11840-11820, below it, we can see the move towards 11780/11720/11640 levels.

Bulls need to sustain above the 12025-12050 range for getting the strength back.

Daily Chart

As per the Nifty Daily Chart, prices are taking support on the above-shown angle line.

Closing below, it can show a drop of 120-180 points, and it will also show short-term weakness in the market.

Weekly Chart
Nifty Weekly Forecast For 03-07th June

In the forthcoming week, 03rd & 06th June are the critical dates.

Next week 11960 will act as Resistance above which move towards 12020/12100/12220 price level can come.

On the Support side, 11840 will work as support & below that move towards 11780/11700/11580 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.