NIFTY 02 JUNE 2021 : A possible corrective day ahead with resistance @ 15660, Support @ 15520.
Good Morning Friends,
It was a flat to negative close yesterday which is sign of pause in current run. Above is daily chart of Nifty. There are two points to be noted.
a) Rising wedge formation
b) Reverse H&S pattern which has done 100% extension
For positive side, I can see still a higher high and higher low formation and most important is retailers liquidity. Overall, I can say that there is nothing much concerning for bulls. It con just be the trading correction if comes.
Short term support is at 15200 and then at 15000 levels.
Happy Trading,
Praveen Kumar
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