Nifty Analysis for June 9 - Tanmoy Ghosh

Nifty spot closed at 4627.80 and crude on Saturday (13:55 IST) was 138.14. Some selloff may come on Monday, but also a recovery is anticipated. There will be huge velocity only above 4661.85, with a trailing stoploss of 4590.60. Below 4590.50, the target would be 4539.50, and if further cracked downward, a huge selloff can be expected. Above 4662, the target is 4715.25/4748.25. Above this level, a strong resistance is 4802.50. Do not expect a good move before June 8. However, after June 12, a huge bull could come, for a weekly target of 4970 or 5158.