01.06.2020 Monday, 8.39 am 

Hi Readers

What has happened on Friday? Nifty Index as expected opened on a negative note at 9422, which was our support zone i.e. 9460-9430, made a day low 9376.90 thereafter, the upward rally taken the Index throughout the day till our threshold level 9585 made a high 9598.85 and closed the day at 9580.30 on a positive bias.

What will happen today? Nifty Index may open on a positive bias with a gap up by tracking global indices to test 9655-9730, if trade and sustain above 9730 then, it may test 9765-9820-9889-9970. On the other hand, the immediate support lies at 9585-9510, if trade and sustain below 9510 then, it may re-test 9465-9430-9375-9335-9275.

Special Mention: Friday also the Nifty Index moved up, I have written last week that, if the Index surpass and closes above 9200, for three consecutive trading sessions then, it may test 9430-9600 levels, already 9598.85 traded till Friday, it looks the Index may test 9670-9730 today, further rally beyond 9730 may pave the way to test 9889-9970 very soon. At the same time if the Index unable to sustain above 9730 then, the weakness may drag till 9585-9275 levels once again, further sell-off below 9275 may drag the Index till 9040 in the near term. 

Trading Strategy: The Investor/trader may book profit if the Nifty index not trade and above 9730, if invested at 8900-8800 levels. It is a traders market, to trade for short term gains, rather to wait for long term basis. The covid19 impact is difficult to measure on the economy in this juncture, must wait for another 2-3 months till then we must wait and watch the further developments. 

For time being, the Index bottemed out at 7500 levels unless, any unexpected worse thing happens in the near term, till then this level may act as a strong support. Please refer our earlier Nifty Special Bulletin dated: 28th Feb'20, 16th Mar'20 and 29th March'20, to read our special bulletin please click this link: https://www.niftytech.in/marketupdate/54

Further details please do call us on 98410 48022 or contact thro' whatsapp: 99624 70636. Please read carefully, the Disclaimer published on the Disclaimer page. Wishing you for a safe and secured trading.