NIFTY- Possible Trade for Today- 02-06-2022

With the index unable to hold on to higher levels yesterday we saw the prices moving down through out the day. The last 30 minutes witnessed some serious upmove which took the index above 16500 and closed above 16500. Today being weekly expiry one could see the index moving closer to 16360 levels on the downside if 16480 -16460 does not hold. On the upside the index can test 16580-16610. Any breach above that can push the index to higher levels.

Important levels to watch out for

Bullish above 16610
Upside levels - 16680/16730

Bearish below 16580
Downside levels - 16520/16480/16420/16380

Disclaimer:
Center for Research in Financial Markets and Economy (C- FAME) is an initiative of the School of Business & Management at Christ Academy Institute for Advanced Studies, Bengaluru. The views presented here are for educational purposes only. C- FAME or the author does not take any responsibility for the trades initiated based on the view presented here.