NIFTY View For 21/06/2024

Manas Jaiswal Research Analyst Image

Yesterday, NIFTY opened almost flat and spent the entire day trading within a narrow range of 23,500 to 23,600. Ultimately, the index closed just above the 23,550 mark. Despite this consolidation in a small range, the market undertone remains positive, prompting us to maintain a bullish outlook with a target of 24,100.

NIFTY faces minor resistance in the 23,600-23,650 range, which may temporarily cap the upside. However, if the index can break through this resistance, it is likely to move swiftly towards our target.

On the downside, the 23,400-23,300 range remains an important support zone, providing a cushion against potential declines.

Nifty Imp Levels For 21/06/2024

Open 23586
High 23624
Low 23442
Close 23567
S 1 23465
S 2 23363
R 1 23646
R 2 23725

Actionable Ideas On Nifty for 21/06/2024

Action SL TGT
Buy above 23650 23579 23790
Sell below 23390 23461 23250
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Manas Jaiswal Technical Research Group