02.06.2020 Tuesday, 8.42 am 

Hi Readers

What has happened on Yesterday? Nifty Index as expected opened on a positive bias with gap up at 9726, which was our resistance zone i.e. 9655-9730, made a day low 9706.95 thereafter, the upward rally taken the Index throughout the day near our threshold level 9970 made a high 9931.60, further the late hour mild sell-off dragged the Index till 9800 and closed the day at 9826.15 on a positive bias.

What will happen today? Nifty Index may open on a flat note to test 9830-9790, if trade and sustain below 9790 then, it may re-test 9770-9730-9705-9655-9620-9585-9520. Likewise, the immediate resistance seen at 9889-9930, if trade and sustain above 9930 then, it may test 9970-10000-10040-10105-10160.

Special Mention: Yesterday, the Nifty Index moved up as expected to test 9889-9970, further move above 9970, if sustain and closes above this level, may lift the Index till 10300 in the near term, the Nation wide lock down relaxation gives the hope for economy recovery alongwith global positive sentiment also helped the Nifty to re-test 9889 once again, we must watch this level today, if fails to sustain above 9890, the weakness cum sell-off may drag the Index till 9600-9500 level very soon.

Trading Strategy: The Investor/trader may book full profit if the Nifty index not trade and closes above 9970, 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.