Nifty Outlook 7th June

Nifty ready for another round of weakness.

Pivot 5099
Support 5079-5048-5012
Resistance 5134-5156-5179

Due to big ticket sell-off in US market we are bound to see a lot of weakness in the opening bell in our market as well.

Nifty may open weak and may continue losing streak later on.

Level of 5074 in Nifty is strong turning point and any closing below this must push it even lower.
Nifty must see strong support at 4999 level.

Any breach of this level will make Nifty more weaker and we will test 4895 level again for sure.

Any positional buying must be avoided until situation clears.