12.06.2020 Friday, 8.44 am 

Hi Readers

What has happened on yesterday? Nifty Index as expected opened on a flat note near our support band i.e.,10050-10020, made a low at 10047.40 thereafter, the minor pull back took the Index near our resistance band i.e.10120-10150, made a day high 10112.05, further the weakenss-cum-sell-off dragged the Index throughout the day till our threshold support level i.e. 9889, made a day low at 9885.05 and closed the day at 9900 on a negative bias.

What will happen today? Nifty Index may open on a negative note with gap down by tracking the global indices to test 9800-9705, if open, trade and sustain below 9705 then, it may test 9680-9600-9570-9480-9420-9350-9275-9170. On the other hand, the immediate resistance seen at 9885-9970, if trade and sustain above 9970, it may re-test 10030-10095-10145-10195.

Special Mention: The Nifty Index as expected and written tested 10300 mark on 08th June, but unable to close above 10260, the technical sell-off dragged below 10k mark, as written yesterday the Index breached 9970 and closed well below 9970, if the Index closes below 9970 for three consecutive trading sessions then, it may test 9600-9400-9000 levels in the near term. At the same further upmove is possible only when the Index closes above 10260-10330 then, it may test 10500-10550 levels, let us wait and watch how it trades today.

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 levels 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.