11 June 2018: Nifty Elliott wave analysis: The most crucial week for Nifty. Making above 10800 can be great push!!!

You must read previous articles and watch the given chart carefully to understand this article completely.

Analysis for 11 June 2018: -

On 08 June 2018: FII Net Sold – 222.50 INR Crs:  DII Net Bought – INR – 459.44 Crs

When it was looking like to break on down side it revived. Now we have almost a reverse H&S pattern visible on daily chart. If this pattern works then we can expect a new all-time high. Technical patterns are looking for supportive on stock price. I am expecting this week to be dominated mostly by bulls.

Although I am talking the possibility of new all-time high but that does not mean that one can be aggressive on buying. This rise will see great limitation on higher side. On other hand it yet need to see close above 10800-10850 levels. If that starts happening, then only we can expect rise. So this is a crucial week.

For today’s trading session, market is expected to open on firm note with possible immediate support at 10710-10680 levels. On higher side I am expecting two import points, one is at 10800 and other is at 10850 levels.

Avoid this rise for any investment as market may be in a possible situation of big time divergence.

Strategy for Nifty June future – Nifty June future is expected to start at 10770+ levels. Afterward we can expect a technical trading support at 10740 and then at 10710 levels. On higher side, we can expect 10850 levels on fair note. I am expecting some intraday dip which can be good opportunity to buy. One should be cautious on decisive time.

BANK NIFTY June future – Bank Nifty is not looking as impressive as Nifty. Important point is that it is above the most crucial threshold of 26400 levels. As long as it is above 26400 we can expect a move towards 26800 to 27000 levels. If 27000 have to come then we can expect this figure to come by this week only. good support is at 26200 levels.