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#PressmanAdvertising : On monthly chart decent breakout is seen. CMP: Rs. 35.80
N.B: All posts are for my records & education purpose only. I'm not SEBI registered analyst. Please consult your Financial advisor before taking any investment decision.
@nishkumar1977@Deishma
Flat to gap-down open expected. NIFTY immediate support 5750/15694 BN immediate support 33150/33020. As today is expiry, expect some volatile move. Bounceback/reversal from support levels may be there. A close above 15960 for nifty will turn the monthly trend to neutral/bullish.
NIFTY VIEW FOR NEXT FEW DAYS: Immediate target is 15850 which should come on Monday/Tuesday. Above that it should target 16040 - 16180. There we need to review further movements. For next few days 9:20 - 11 AM is vital for movements after that it should consolidate.
#NIFTY monthly close (30th June) above 15970 is important for bulls. If it can save the level then from July onwards market will go very bullish to give new ATH where a negative divergence may come into play. But at this point it is difficult to calculate the ATH.
There should be gap up opening in indices tomorrow. Not holding the todayโs high should trigger sell off...else consolidating upmove should take place. Specifically NIFTY is looking weaker than BN.
gap up opening expected. 15780/15834 are levels to watch for NIFTY & 34340/34750 for BN. Above 15834 for NIFTY and 34750 for BN, further upmove expected.After opening if consolidate within short range then we may see further breakout else resistance will act for correction.
BANKNIFTY FOR NEXT FEW DAYS: Positive divergence is pushing this index upwards. trading above 33750, targets are 34330 and 34770 where we need to review for further move. RSI pattern shows a fast move setup is there. Lower time frame should adjust with consolidation after gap up.