- On Weekly timeframe, Nifty 50 has given breakout on upside of the Flag and has resumed on Uptrend.
- Has broke the all time high recently and overall it is ** BULLISH **. No Major Down trend signals yet.
- On Daily Time frame, Nifty 50 has taken a halt and has shown a red candle on last Friday (04 Jun 2021).
- Nifty seems **BEARISH ** for Monday session and might come down to 15550 levels to take another support , before resuming upwards.
If the 15500 levels are broken by NIFTY 50 , we can expect a Major trend reversal and expect Nifty to continue in downtrend.
Overall Verdict.
- Mildly Bullish on Major time frame.
- For Monday, the trend seems bearish.
Major Support and Resistance Levels :
Major Support : 15550 - 15570 Levels
Major Resistance : 15700 - 15730 levels.
****DISCLAIMER:****
** The above Analysis is only for your understanding and for your knowledge.
** Trading is risky and one should always do their own research and take advise of experts if required before taking any trades.
Wish you a good health and success!!
- Has broke the all time high recently and overall it is ** BULLISH **. No Major Down trend signals yet.
- On Daily Time frame, Nifty 50 has taken a halt and has shown a red candle on last Friday (04 Jun 2021).
- Nifty seems **BEARISH ** for Monday session and might come down to 15550 levels to take another support , before resuming upwards.
If the 15500 levels are broken by NIFTY 50 , we can expect a Major trend reversal and expect Nifty to continue in downtrend.
Overall Verdict.
- Mildly Bullish on Major time frame.
- For Monday, the trend seems bearish.
Major Support and Resistance Levels :
Major Support : 15550 - 15570 Levels
Major Resistance : 15700 - 15730 levels.
****DISCLAIMER:****
** The above Analysis is only for your understanding and for your knowledge.
** Trading is risky and one should always do their own research and take advise of experts if required before taking any trades.
Wish you a good health and success!!