Equityandit’s Outlook for Nifty for week (June 19, 2017 – June 23, 2017):

NIFTY:

Nifty closed the week on negative note losing around 0.80%.

As we have mentioned last week that minor support for the index lies in the zone of 9550 to 9600. Support for the index lies in the zone of 9350 to 9400 where break out levels for the index is lying. If the index manages to close below these levels then the index can drift to the levels of 9200 to 9250 where break out gap for the index is lying. During the week the index manages to hit a low of 9561 and close the week around the levels of 9588.

Minor support for the index lies in the zone of 9530 to 9550. Support for the index lies in the zone of 9350 to 9400 where break out levels and short term moving averages for the index is lying. If the index manages to close below these levels then the index can drift to the levels of 9200 to 9250 where break out gap for the index is lying.

Minor resistance for the index lies in the zone of 9650 to 9680. Resistance for the index lies in the zone of 9730 to 9750. If the index manages to close above these levels then the index can move to the levels of 9880 to 9900.

Broad range for the week is seen from 9400 on downside & 9800 on upside.