Friday, June 24, 2016

Nifty Analysis for 24 June

 BREXIT outcome will play major role in deciding the market swings today. SGX Nifty as at 8.15 am is suggesting a gap down of 150 points.

If Nifty gaps down anywhere below 8188, Nifty is breaking a crucial support. It turns out to be sell on rise market.

Nifty support areas are 8170 and 8140. If Nifty gaps below these levels, these areas will act as resistance. Thers is a high possibility that Nifty may bounce immediately after opening. This is an opportunity to create shorts.

Nifty has major support near 8070 and then at 7992.

Hope you remember the weekly view where I had written about bigger picture is indicating correction in Nifty.

My next Advanced Traders Training (Traders Mentor Program) through Online Mode is scheduled from 4th July. The training is for traders in Equity, Commodity and Currency.

Nifty 15 min Chart

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