15.06.2020 Monday, 8.46 am 

Hi Readers

What has happened on Friday? Nifty Index as expected opened on a negative note with major gap down beyod our support band i.e.,9800-9705, made a open and low at 9544.95, which was our further support level i.e. 9570 thereafter, the upward rally took the Index throughout the day till our threshold resistance level i.e. 9970, made a day high at 9996.05 and closed the day at 9972.05 on a positive note. 

What will happen today? Nifty Index may open on a flat to negative note to test 9940-9880-9840, if open, trade and sustain below 9840 then, it may re-test 9810-9730-9660-9635-9545. Likewise, the immediate resistance seen at 9970-10030, if trade and sustain above 10030, it may test 10095-10145-10195-10260-10330.

Special Mention: The Nifty Index as expected and written tested near 9600 level on Friday and made 9544.95, the global weakness dragged the Index, over re-acted and opened on Friday, thereafter it moved and closed well above 9970, today watch 9970, if closes below for three consecutive trading sessions then, it may re-test 9545 once again, further weakness below 9545 then, it may test 9400-9000 levels in the near term. At the same further upmove is possible only when the Index closes above 9970 for three consecutive trading sessions may pave the way re-test 10330 further upmove above 10330, then it may test 10500-10550 levels, let us wait and watch how it trades today. It looks for the time being, the Nifty Index may trade between in a broad range bound between 10330-9545.

Trading Strategy: The Investor/trader who Invested on Friday near 9600-9545 levels, may start book profit for 50-10% return on the stocks, unless 10260-10300 if not break and closes above these levels. 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.