19.06.2020 Friday, 8.45 am 

Hi Readers

What has happened on yesterday? Nifty Index contrary to our expectation opened on a flat note at 9863, made a day low at 9845.05 thereafter, the upward rally lifted the Index throughout the day beyond our resistance level i.e. 10080, made a day high at 10111.20 and closed the day at 10090.65 on a positive bias. 

What will happen today? Nifty Index may open on a negative note to test 10050-10030-10005, if open, trade and sustain below 10005 then, it may re-test 9970-9940-9885-9830-9760-9726. Likewise, the immediate resistance seen at 10110-10148, if trade and sustain above 10148 then, it may test 10185-10220-10260-10330.

Special Mention: Yesterday, the Nifty Index as written and expected unable to move below 9725 and broken our threshold level 9970 and tested 10110 and closed well above 9970, being the first trading session the Index closed above 9970, watch today and Monday if continue to close above 9970-10115 and break 10150 then, it may re-test 10260-10330 very soon. Nifty Index today must surpass and close above 10115 levels, then the Index may change the direction from the current range bound move to upward move since, the 100 simple DMA(Daily Moving Average) lies at 10115, any strong move and closes above this level next levels to test 10330-10550 in the near term. At the same time, if the Index fails to sustain above 9970 and closes below for three consecutive trading sessions then the wekaness may drag once again till 9800-9500 levels.

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.