NIFTY Negative week

1. Large hammer like candle shows emotional extremes.
2. Any trending move possible only when positions at these extremes gets taken out.
3. June 21-24 likely to be a second negative week.
4. On downside, I consider the zone of 15375-15425 as the possible support zone.
6. Stop loss for short positions should be close above 15684.

There is a possibility of gap down. I plan to avoid any long positions unless NIFTY closes above 15770 and maintains it.

I have two positions
1. 24 Jun 16000/16200 CE Spread sold at Rs 28, Now trading at Rs 11. SL is close above 15770.
2. 01 Jul 15600/15700 CE Spread sold at Rs 44, Now trading at Rs 64. SL is close above 15684.
NIFTYTrend Analysis

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