NIFTY WEEKLY PREDICTION & TRADING TIPS FOR 27 JUNE TO 1 JULY 2022

GET THE LIVE TRADING TIPS ON WHATSAPP FOR DETAILS PING ON 9039542248 ✆☎☏📱 

OR FILLUP YOUR NAME MOBILE NUMBER SEGMENT IN THE GIVEN FORM GIVEN HERE 👉👉👉 & SUBMIT IT, SO WE WILL CALL YOU 😊😊

WEEKLY RESISTANCE FOR NIFTY: 15800, 16200, 16500

PIVOT POINT: 15500

WEEKLY SUPPORT FOR NIFTY:  15300, 15100, 14800

WEEKLY CHART FOR NIFTY

DAILY RESISTANCE FOR NIFTY: 15750, 15850, 15950

PIVOT POINT: 15650

DAILY SUPPORT FOR NIFTY:  15500, 15400, 14950

DAILY CHART FOR NIFTY

Our market started the week on June 20, 2022 on a muted note amid weakness in Asian stock markets and followed a sluggish movement throughout the day. The benchmark index, the Nifty50, had a lackluster trading day, spending most of its time in a tight range with no clear direction. However, at the bottom of the tipping point, some traction was seen in the index, resulting in a positive close for Nifty with a gain of just 0.37% at the 15350 level. On Tuesday, June 21, 2022, the rise in global stock markets helped the domestic market become buoyant, with the benchmark index seeing a major move since the opening bell, lifting overall sentiment. The action certainly shows the urge of the D-Street bulls amid favorable conditions. The Nifty50 Index finally ended the day higher with gains of 1.88%, slightly below the 15650 level. On Wednesday 22 June 2022, weak Asian signals led to a subdued start in our home market, with the benchmark index having a gap-down open. The Nifty50 index continued to slide lower throughout the day and all of the pure pullbacks during the session were sold by the bears. Finally, the index ended the day slightly above the 15400 level with a fall of over 1.44%. On June 23, 2022, the Indian stock market experienced an immensely volatile weekly expiration session, with the benchmark index starting the session on an upbeat note. The index's initial brisk move was sold aggressively, pulling it towards the daily lows, but it soon rebounded from the lows, again buoying general sentiment. With all the days of rollercoaster rides, the Nifty finally ended the day in green with gains of nearly a percent, a bit above the 15550 level. Benchmark indices ended higher for the second consecutive day on 24 june 2022 with Nifty ending just shy of 15700. The Sensex closed 462 points higher at 52728, and the Nifty ended 142 points at 15699.

NIFTY: A STRONG SUPPORT WILL BE @ 15300; STRONG RESISTANCE LEVEL SEEN @ 16200

Equity benchmarks behaved contrary to our expectations as bearish global signals followed fears of rising global inflation and interest rate hikes weighed on investor sentiment. The pace of the decline accelerated on the break of the 15700 March low and continued to drift towards the 15200 level. We expect the index to gradually resolve higher in the coming months, extending the pullback towards the 16600 region, with a strong Support is placed near the 14800-14600 zone, which we expect to hold as it is an 80% retracement of the CY-21 rally (13596 -18604), at 14600. Hence, dips should be exploited, to build a portfolio by accumulating quality stocks in a staggered manner.

TECHNICALLY SPEAKING

After the correction of the past few weeks, equity markets ended this week with positive returns. Major key indices and most sector indices advanced over the week. The auto sector led the recovery amid softening commodity prices. On the other hand, the BSE Metal, BSE Energy and BSE Oil & Gas indices underperformed the broader markets. The correction in crude oil prices from the recent peak and the decline in commodity prices provided some relief to markets in an otherwise high global inflationary environment. The progress of the monsoon is an important factor to watch as a good monsoon would allay food inflation concerns. Equity markets are expected to continue reacting to news related to inflation, monetary policy and commodity price movements in the short term. Nifty ended the week with an inside candle. We see a bullish Harami pattern on the weekly chart. Since the pattern is a bullish reversal pattern, we can expect Nifty to see some upside in the coming days. Also, on the weekly timeframe, we see the candle close at the high of the weekly range. This is a bullish development. Meanwhile, Nifty failed to make a new low on the daily charts on June 16, 2022. This market reluctance to trade below the lows even after six days suggests that the market is in no mood to trade lower immediately. Nifty needs to break above 15900 to signal a rally to 16200-16500. Support in Nifty stands at 15500. A break below support and there might be a further drop to 15300-15000.