As anticipated last week, Nifty traded sideways, showing limited movement.
The current technical setup indicates the index may continue to remain range-bound in the upcoming week.
On the 30-minute chart, a symmetrical triangle pattern has formed, suggesting that a breakout in either direction could lead to a swift, short-term move.
Key Levels to Watch
Support: 24,500
Resistance: 25,100 – 25,150
A decisive breakout above 25,100, confirmed by two consecutive closes, could pave the way for a rally toward the 25,500 mark.
Meanwhile, Foreign Institutional Investors (FIIs) have cut their long positions to nearly half of April–May levels, reflecting a more cautious stance. Still, their net buying in the previous months, along with upcoming catalysts like the RBI policy announcement on June 6 and the progress of the monsoon, could potentially reignite market momentum.
The current technical setup indicates the index may continue to remain range-bound in the upcoming week.
On the 30-minute chart, a symmetrical triangle pattern has formed, suggesting that a breakout in either direction could lead to a swift, short-term move.
Key Levels to Watch
Support: 24,500
Resistance: 25,100 – 25,150
A decisive breakout above 25,100, confirmed by two consecutive closes, could pave the way for a rally toward the 25,500 mark.
Meanwhile, Foreign Institutional Investors (FIIs) have cut their long positions to nearly half of April–May levels, reflecting a more cautious stance. Still, their net buying in the previous months, along with upcoming catalysts like the RBI policy announcement on June 6 and the progress of the monsoon, could potentially reignite market momentum.
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🌐 goodluckcapital.com
🎖️ SEBI registered INH300006582
🎖️ CMT(usa) & CFTe(usa) chartered
🎖️ NSE certified professionals
📈 Trading and Investment Advice
t.me/GoodluckCapital
🤝 Contact Us
bio.link/GoodluckCapital
🎖️ SEBI registered INH300006582
🎖️ CMT(usa) & CFTe(usa) chartered
🎖️ NSE certified professionals
📈 Trading and Investment Advice
t.me/GoodluckCapital
🤝 Contact Us
bio.link/GoodluckCapital
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.