{"id":2843,"date":"2013-06-20T14:08:33","date_gmt":"2013-06-20T08:38:33","guid":{"rendered":"https:\/\/blog.fundsindia.com\/blog\/?p=2843"},"modified":"2019-06-06T19:56:34","modified_gmt":"2019-06-06T14:26:34","slug":"nifty-outlook-update","status":"publish","type":"post","link":"https:\/\/www.fundsindia.com\/blog\/equities\/nifty-outlook-update\/2843","title":{"rendered":"Nifty Outlook: Update"},"content":{"rendered":"<p style=\"text-align: justify;\">The scenario mapped out in the <a href=\"https:\/\/www.fundsindia.com\/blog\/equities\/nifty-weekly-outlook-june-17-21\/2812\">Monday&#8217;s post <\/a>has played out to perfection. The Nifty turned weak right at the prior gap area of 5,860-5,890 that was highlighted in the above post. The updated 15-minute chart of the Nifty is featured below.<\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/06\/Nifty.png\"><img loading=\"lazy\" class=\"alignleft size-full wp-image-2844\" src=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/06\/Nifty.png\" alt=\"Nifty\" width=\"1340\" height=\"581\" srcset=\"https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/06\/Nifty.png 1340w, https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/06\/Nifty-300x130.png 300w, https:\/\/www.fundsindia.com\/blog\/wp-content\/uploads\/2013\/06\/Nifty-1024x443.png 1024w\" sizes=\"(max-width: 1340px) 100vw, 1340px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\">Here is the extract from the last paragraph of the post.<\/p>\n<p style=\"text-align: justify;\"><em><strong>&#8220;&#8230;.5,860-5,890 would be the first level to hunt<\/strong><\/em><em><strong> for short positions. Any signs of weakness there would present shorting opportunity with a stop loss at 5,990, for a target of 5,650-5,700&#8243;<\/strong><\/em><\/p>\n<p style=\"text-align: justify;\">Nifty turned weak at the prescribed zone and has also hit the target of 5,650-5,700. Pay attention to the minor pull back, late in the afternoon yesterday, which presented an ideal short trade set-up. The failure at the upper blue line was a clincher that confirmed the bearish undertone.<\/p>\n<p style=\"text-align: justify;\">Those holding short positions may take profit as the price is now at the middle blue line which is the minimum retracement requirement. There are three possibilities now. Price can either consolidate at the blue line, or turn up or accelerate lower. We would prefer price to give us clue about what it does at the middle blue line.<\/p>\n<p style=\"text-align: justify;\">Those wanting to hold on to short positions may trail their stop above the minor swing high at 5,735. The short-term trend remains bearish and any pull back now would present shorting opportunity. The index has to move past 5,890 to make us give-up the hunt for short trades.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The scenario mapped out in the Monday&#8217;s post has played out to perfection. The Nifty turned weak right at the prior gap area of 5,860-5,890 that was highlighted in the above post. The updated 15-minute chart of the Nifty is featured below. Here is the extract from the last paragraph of the post. &#8220;&#8230;.5,860-5,890 would [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[59],"tags":[67,89],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Nifty Outlook: Update<\/title>\n<meta name=\"description\" content=\"Nifty moved in line with our expectations. Here is a follow-up to the Monday&#039;s post.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.fundsindia.com\/blog\/equities\/nifty-outlook-update\/2843\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Nifty Outlook: Update\" \/>\n<meta property=\"og:description\" content=\"Nifty moved in line with our expectations. 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