Mentorship InstaView 25 June’21: Consolidates before a New High


Nifty View: A fresh positive start to July contracts as the Nifty futures inch further up with an 89 points gain on Friday’s session. On a week on week basis the index gained 191 points - a complete recovery from the recent high volatile sell-off. The index is now back to a UP trend across all time frames and good to notice participation coming in from heavyweight banking stocks like SBIN and ICICIBANK. A look at the 125min chart of Nifty suggests a short term consolidation that has taken the shape of an Ascending Triangle. Considering the underlying trend and momentum we should be heading for a new life high early next week and a breakout above this triangular pattern. Short term supports to keep in mind is at 15,700. Stay bullish.

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