Jun22-W5: Can Nifty fill the gap? (Jun27 to Jul1)
What I said last week was that I would not be surprised if Nifty manages to give a swing-high to 15625. Now the following is my analysis for coming week:
Nifty is positioned nicely for a big jump. It carries a good momentum from last week. The upward push can help Nifty in filling a big gap between 15886 and 16172. The party pooper can be the 15900 level as I see some parallel channels converging there.
Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)…
Consolidation - Between 16175 and 15425
Downtrend - If breach below 15425; to drop somewhere till 14975
Uptrend - If breach above 15425; to rise somewhere till 16700
Is there going to be a ceasefire to the Ukraine-Russia war? Hope so. Is that news absorbed? I don’t think so.
DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.
Nifty is positioned nicely for a big jump. It carries a good momentum from last week. The upward push can help Nifty in filling a big gap between 15886 and 16172. The party pooper can be the 15900 level as I see some parallel channels converging there.
Scenarios for the week ahead (highlighted as yellow box with red and green lines dissecting scenarios)…
Consolidation - Between 16175 and 15425
Downtrend - If breach below 15425; to drop somewhere till 14975
Uptrend - If breach above 15425; to rise somewhere till 16700
Is there going to be a ceasefire to the Ukraine-Russia war? Hope so. Is that news absorbed? I don’t think so.
DISCLAIMER: I am not a SEBI registered adviser. All the information provided on this website is for educational / informational purposes only and should not be taken as investment advice.
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