Nifty future weekly forecast for 20 to 24 June 2016
Nifty future this weekly closed with loss. This was second weekly loss for nifty future and in these 2 weeks nifty future came down from 8316 high low of 8076. So almost lost 250 points from top and correcting. For next week, nifty outlook remain bearish as RAJAN exit, BREXIT and also chart price as well as indicators patterns suggesting same. For next week, nifty future will have strong resistances around 8240 and 8350 while on downside 8075 and then 8040 are major support. If nifty slips below 8040 on daily closing basis then expect downside up to 7850 in medium terms.
Future traders with stoploss 8250 keep short view and expect 8075 and 8040 as immediate targets while 7850 will be medium term target. Option traders hold nifty 8200 put options with trailing stoploss for big target in next week.
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