16.06.2020 Tuesday, 8.43 am 

Hi Readers

What has happened on yesterday? Nifty Index as expected opened on a flat to negative note made a day high near our resistance band i.e. 9940-9880-9840 thereafter, the sell-off dragged the Index till noon session, made a day low at 9726.35, which is was our support level i.e. 9730, further volatile move lifted the Index till 9875 and closed the day at 9813.70 on a negative note. 

What will happen today? Nifty Index may open on a positive bias with a gap up by tracking global indices to test 9970-10030, if open, trade and sustain above 10030 then, it may re-test 10078-10110-10150-10195-10260-10330. On the other hand, the immediate support lies at 9920-9870, if trade and sustain below 9870 then, it may test 9800-9730-9670-9620-9545.

Special Mention: The Nifty Index as expected and written yesterday unbale to cross our threshold level 9970 and re-tested 9730, closed well below 9970, being the first trading session, we must watch today and tomorrow if closes below 9970 then the wekaness may drag the Index till 9545-9400 very soon. But, it seems today the gap up opening may lift the Index beyond 9970-10030, if sustain, trade and closes above 9970-10030 levels for three consecutive trading sessions then, it may re-test once again 10150-10260-10330 in the near term, 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.