NIFTY was unable to move past 4275 level which was also established as a strong resistance in the previous session.
Though yesterday's move looks bullish, the undercurrent and the overall pattern suggests that this is going to be an expiry favouring bears and we are going to see new lows for the month in these two days and the close of tomorrow could also be the lowest close for the entire june series.
Having said this, though the possibility looks very very remote, any move beyond 4325 would bring in extreme bullishness and can push NIFTY to even 4450 levels.
I hold my view that we will see a break of 4100 levels and can even momentarily break 4000 levels before this expiry tomorrow.
Happy Trading
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