NIFTY WEEKLY UPDATE (must read)

2022年6月20日

SUMMARY:-
"back with weekly market update sorry for delayed post as i am sick had a medical emergency last week"
"for live updates please check signature box below currently active in the channel'

MARKEY OVERVIEW
*check out our last few post on index
*i have been somewhat accurate in predicting price moves
*again we expected a fast move towards 15250-15000 which has come
*for index go deeper we need a bounce that is what market is expecting
*but if no us mkt overnight and still banknifty and nifty cannot bounceback 2%
*then there is a lot to worry about

GLOBAL MARKETS
*brent crude has relax so some are expecting relief rally
*understand the prices have come down due to fear of no demand and recession
*russian economy is thrieving due to war
*fed has yet to start bond action worth 120 billion to suck out liquidty
*dow joneS has a weekly crucial support@29500 and S&P 500 @3550
*if they fail to find support over there then there is a further possiblity of 5%-7% correction
*note i am at some point now expecting a bounce back in the market also
*but market does not work on consensus it works in opposite

NIFTY INDEX VIEW
*like last week i had posted a descending triangle pattern breakdown chart
*we have a confirmation of a breakdown
*initial target of 15000-15200 is almost achieved
*below current levels i expect marktes to test 14700-14500-14200
*if nifty eps has to correct further it should correct till 14200-14000
*if you are a long-term investor ETF first installement(25%) i would suggest to put it in

NIFTY SUPPORT AND RESISTANCE LEVELS ARE BACK
RESISTANCE
15650-15700-15750
SUPPORT LEVEL
15200-15050-14900

MY POSITIONAL TRADE ON NIFTY
*in first week we started adding july 15400 puts and kept on adding
*now we are in the money option
*so looking to add on rise
*nifty stop is placed@15800 on closing basis for these puts

DISCLAIMER
*my views are not trade recommendation
*please consult your financial advisor
*do not over trade
*manage risk and manage risk appetite
*for live market update click on the link in signature box
*it my personal channel for live F&O TRADES
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