09.06.2020 Tuesday, 8.39 am 

Hi Readers

What has happened on yesterday? Nifty Index as expected opened on a positive note with gap up beyond our resistance band i.e.10260-10295, made a high point at 10328.50 thereafter, the profit booking cum sell-off dragged the Index throughout the day till first level support level i.e 10140, made a low at 10120.25 and closed the day at 10167.45 on a flat to positive note.

What will happen today? Nifty Index may open on a positive note to test 10200-10225, if trade and sustain above 10225 then, it may test 10260-10295-10330-10395-10460-10550. Likewsie, the immediate support lies at 10175-10120, if trade and sustain below 10120, it may re-test 10085-10040-10010-10065-9985-9945-9890.

Special Mention: The Nifty Index as expected and written tested 10300 mark but unable to close above 10260, today and tomorrow it must trade, sustain and closes above 10260 then, the Index may test 10430-10550 in the near term. At the same time if, break and closes below 10000-9970 for three consecutive trading sessions then it may test 9900-9600 levels in the near term, let us wait and watch how it trades today and tomorrow at 10260 levels. Please be cautious in this rally it is purely a pull back in nature and trap the traders and Investors, it may even take the Index beyond 10550, if closes above 10550 for three consecutive sessions then, it may test 11000-11300 before June'20. I have my own doubt that once again a major sell-off is possible during July-August, the Covid-19 is spreading across the nation once again, the death rate is also going up, since more lock down relaxation is underway, we will pray the god almighty to save the people from this pandemic, across the nation and world too.

Trading Strategy: The Investor/trader may start to invest once again at 9600-9100 level in the Nifty index, for short term perspective to gain 10-15% in Nifty 50 stocks. This 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. 

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.