Nifty Spot Weekly Outlook for Jun20 -Jun 24th

Falcon Analytics Outlook Nifty 50 for the Expiry week ( Jun 20 – June 24 )

Last Weekly Nifty witness selling pressure below 16057 , while the pivot for the week @ 16327 was not breached on upside.

Technically for this week on the daily charts we see minor support on the downside for Nifty50 index lies at 15185 levels,
whereas minor resistance on the upside is capped around 15722 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 supports on lower side around 15019/14751 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 15888/16157.

Currently Nifty50 index is trading Below Red Line 200 day EMA @ 16673 suggests long term trend is Bearish.

Range for the week is seen from 14751 on downside and 15888 on upside.

Weekly Chart Suggest closing below 15100 Downward Momentum can be fast.

https://www.tradingview.com/x/YnwPNe2i/

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

( All Spot Levels)

RESISTANCE 4: 16425

RESISTANCE 3: 16157

RESISTANCE 2: 15888

RESISTANCE 1: 15722

WEEKLY PIVOT LEVELS: 15454

SUPPORT 1: 15185

SUPPORT 2: 15019

SUPPORT 3: 14751

SUPPORT 4: 14482

All above views for education purpose only.

Regards,
MD .