NIFTY WEEKLY OUTLOOK ( 1st july 2019 to 5th july 2019)

Closed  @ 11788

EMA 10 @ 11797

EMA 20 @ 11792

EMA 50 @ 11691

Resistances: 11916,12108

WEEKLY PIVOT: 11783

Supports: 11741,11672,1156

nifty trading with failure pattern of  inverse head and shoulders pattern which is bullish sign but it should be on bottom

Nifty making lower top lower bottom on daily chart and it tried to break nechline of inverse head and shoulder failures pattern on daily chart on 26^th june and 27^th june but it fails to closes with strength candle . so in that case we have to plan as it is standing on make and break point game plan

1.       Bullish mode: If nifty tried to sustain above trendline with strengths candle above 11916 then it can go up too 12108. In this case it should not breach support level of 11700.

2.       Bearish mode: if nifty breach this support of 10700 then it can go up to 10600 which is strong level for nifty that should not breach if this is uptrend and if 10600 breached 10450 will be tested.

3.       Range bound: those who wants to be in range then 10600 will be mid points and above 10900 and below is 10450.

How to trade in nifty in next week

What should be strategy for nifty next week