As of now technical parameters are in favour of weakness compared to previous week. Weakly status neutral as closed in between 2 pivots. Volatility remain in concern but it is not clear whether leads to be breakout or breakdown?
Above was my previous weekly technical view regarding Nifty Future. It opened positive @ 11941.65 did low 11915.05 sustain above bulls pivot 11952 > 12007 > 12064 breakout to 12118 (rewarded 166 points). Due to neutral status there was possibilities to test 11916.50. On down side pivot 11952 became support and sustain below down to 11917 > bear’s pivot 11882 > 11827 > 11801.20 ( rewarded 151 points). Finally closed flat within +/- 0.146% of previous week close 11916.50 @ 11900.75 and remain in between 2 pivots. Highly rewarded and inline with the expectations. Weekly view successful without missing single word if judge wisely. Daily levels works as usual and get highly rewarded.
Nifty Future Weekly View Commencing 10th June 2019
It closed day wise positive and week wise minor negative with higher than 13 day average open interest and lower than 13 day average volume @ 11900.75.
Positive Factors : 12
Negative Factors : 5
Conclusion:-
As of now technical parameters are in favour of positive compared to previous week. Weekly status neutral. Smell of either or both sides weekly range breakout or tend to breakout. Follow levels given below and compare with my daily levels.
Weekly Pivots:
Bulls : Sustain above 11958
Bears : Sustain below 11844
Resistances : 12090/12141
Supports : 11712/11661
Disclaimer: Nothing sure in the market. Trade with stop loss. Above are my personal views, may or may not be achievable. Consult with your personal trading adviser before act.
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