18.06.2020 Thursday, 8.42 am 

Hi Readers

What has happened on yesterday? Nifty Index as expected opened on a negative note with a mild gap down at our support band i.e. 9885-9840, made a day low at 9833.80 thereafter, the upward rally lifted the Index near our resistance i.e. 10010, made a day high at 10003.60, further volatile move and late hour sell-off dragged the Index once again near day low and closed the day at 9881.15 on a negative note. 

What will happen today? Nifty Index may open on a negative bias with a mild gap down by tracking the global indices to test 9795-9725, if open, trade and sustain below 9725 then, it may re-test 9665-9620-9545-9475. On the other hand, the immediate resistance seen at 9835-9865, if trade and sustain above 9865 then, it may test 9910-9940-9970-10010-10045-10080-10148.

Special Mention: Yesterday being the third consecutive trading sessions the Nifty Index unable to closes above 9970, today watch 9725, if this level breaks below and sustain then, the weakness cum sell-off may drag the Index till 9665-9545 very soon, the lack of direction prevails in the Nifty Index and trading in the range bound move between 10000-9700, so far this week, it looks the Index may not break 9725 today. At the same time the Index must trade, sustain and close above 9970 for three consecutive trading sessions to re-test 10150-10260-10330. The Option weekly expiry falls today, already the volatility on the rising mode, we may witness more voaltility today hence, traders are advised to trade with due caution. 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 may Invest once again on the Nifty50 stocks, when the Nifty index trades near 9500-9400 levels for a short term gain around 5-10%. 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.