22.06.2020 Monday, 8.49 am 

Hi Readers

What has happened on Friday? Nifty Index as expected opened on a flat note at 10119, which was our resistance zone 10110-10148 thereafter, the Index witnessed a mild sell-off and made a day low at 10072.65 further, the upward rally lifted the Index throughout the day with volatile trade and made a day high at 10272.40, which was our threshold resistance level i.e., 10260  and closed the day at 10244.60 on a positive bias. 

What will happen today? Nifty Index may open on a flat note to test 10230-10272 if open, trade and sustain above 10272 then, it may test 10330-10385-10435-10490-10550. On the other hand, the immediate support lies 10210-10150, if trade and sustain below 10150 then, it may re-test 10110-10060-10035-10010-9970-9945.

Special Mention: Till Friday, the Nifty Index as written and expected moved above 9970 and closed, further tested 10260, if continue to trade and closes above 10260-10330 then, the Index test 10550-10770-10990 levels in the near term, let see how it trades today. At the same time, the Index may see weakness only if, trades and closes below10150 levels for three consecutive trading sessions the, it may re-test 9970-9850 level very soon, as stated on 19th Jun-Friday, the 100 simple DMA(Daily Moving Average) lies at 10096, as long as it trades above then, not to worry for the Index and it may try to test the long term resistance level i.e., 200 DMA level at which lies at 10920.

Trading Strategy: The Investor/trader may watch 10330-10550 levels to book profit, if 10550 level not broken either this week or by July first week and re-invest at 9800-9600 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. 

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.