NIFTY WEEKLY OUTLOOK ( 2ND JULY 2018 to 6TH JULY 2018)

Closed  @ 10714

EMA 10 @ 10720

EMA 20 @ 10730

EMA 50 @ 10667

Resistances: 10800,10850,10950

WEEKLY PIVOT: 10700

Supports: 10550,10480,10400

Nifty moved as we expected as trendline worked as strong resistence and falls exactly our last support that was 10550 and reverse and closes at 10700,now there are two cases the first one is if nifty does not trade above trendline and sustain on closing basis then again it can come down toward same levels we mentioned ,as we have seen red hanging man candle on weekly chart which is starting reversal point for confirmation we required next week if nifty trade previous week high then it will be again in same trend and in second case if nifty falls and trade below 10700 then sell on rise strategy will be till 10400.

Please trade according levels .

Thanks