Nifty Spot Weekly Outlook 06th June to 10th June

Falcon Analytics Outlook Nifty 50 for the Expiry week ( Jun 06 – June 10 )

Last Weekly Nifty witness selling pressure @ 200day EMA @ 16746 on friday, while the pivot for the week @ 16223 was not breached.

Technically for this week on the daily charts we see minor support on the downside for Nifty50 index lies at 16358 levels,
whereas minor resistance on the upside is capped around 16824 levels.

If Nifty50 index breaches minor support on the downside and closes below it, we may see fresh break down and index can drag towards major support on lower side around 16250/16114 and and if breaches minor resistance on the upside and closes above it, we may see fresh breakout and index can head towards higher levels around 16960/17095.

Currently Nifty50 index is trading Below Red Line 200 day EMA @ 16746 suggests long term trend is Bearish.

Range for the week is seen from 16114 on downside and 16824 on upside.



Below Mentioned Spot Levels can be used to trade Long Or Short during the week ahead.

( All Spot Levels)

RESISTANCE 4: 17095

RESISTANCE 3: 16960

RESISTANCE 2: 16824

RESISTANCE 1: 16740

WEEKLY PIVOT LEVELS: 16605

SUPPORT 1: 16469

SUPPORT 2: 16385

SUPPORT 3: 16250

SUPPORT 4: 16114

All above views for education purpose only.

Regards,
MD .