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.
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