Nifty Weekly Expiry Outlook for 30th June 2022

Let’s start this expiry outlook with analysis of: Monthly, Weekly, Daily, Hourly time-frames.

Monthly time-frame

Past Analysis

• Major resistance zone 18000-18300, got rejected several times from this zone.
• Nifty found support at 15700-16000 zone twice in March & May Month.
• Nifty falling with Red candle in last 2 months (April & May), but was getting support from 15700 levels.
• Current month (June) candle has broken the major support zone, signalling a big sell-off.

Now what

• Monthly time-frame indicates complete bearishness in market, as price has broken the major support zone with big red candle. However, its gained some support from 15200 levels.

Weekly Time-frame

Past Analysis

• Nifty was falling in Lower High – Lower Low pattern since past months.
• Latest fall from 18100 levels up-to the support zone of 15700-16000.
• Bounced back from support zone to 16800 level, from where it resumed down-trend with hammer pattern formation at 16800 levels.

Now what

• After getting resitance from 16800, In last two week bears gripped the market with full power, broken the major support zone (15700-16000). However, in last week, Nifty got supported from 15200 level closing in green.

Daily Time-frame Analysis

Past Analysis

• From the resistance level of 16800, it keeps falling, however to spent some time at important level of 15700 but in past week, Bears took complete charge.
• On 16June, Nifty fell with a big red candle from the level of 15700 to 15300 levels (400pts) in single day.

Now what

• However, from 15200 level it bulls gathered their power to take market again up to 15700 level where market is trading with volatility in complete last week.

Hourly Time-frame Analysis

Past Analysis

• From the resistance revel of 16800, Bears kept hammering Nifty with lower-high, lower low pattern.
• However, there was some sidways movement at 15700 zone.
• But, on June16,22, Bulls lost their 15700 territory & Bears took market to 15300 levels.

Now What

• Now in past week, you can notice the good amount of consolidation at 15200 levels, from there Bulls took nifty to 15700 twice forming a W pattern on a hourly timeframe.

Concluding Analysis:

• Bears took nifty from 16800 straight down to 15200 levels.
• However, Bulls fought at 15700 level, but got beaten down by Bears.
• Again, at 15200 But tried to fight and took Nifty to 15700 level.
• Now 15700 will act as good resistance for Bulls. However from 15200 Nifty moving up with lower high lower low form and formed W pattern from the level of 15400.

So important levels to watch:

Support & Resistance Zone

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