23.06.2020 Tuesday, 8.41 am 

Hi Readers

What has happened on yesterday? Nifty Index contrary to our expectation opened beyond our resistance zone i.e.10230-10272, made a open at 10318.75 thereafter, the mild sell-off dragged the Index near our resistance level 10272, made a day low 10277.60, further upward rally lifted the Index well above our threshold level i.e 10330-10385, made a day high at 10393.65, the late hour sell-off dragged the Index once again till day low and closed the day at 10311.20 on a positive bias. 

What will happen today? Nifty Index may open on a flat to positive note to test 10330-10360 if open, trade and sustain above 10360 then, it may test 10395-10435-10490-10550-10600-10660. Likewise, the immediate support lies 10270-10230, if trade and sustain below 10230 then, it may re-test 10185-10150-10120-10085-10055-9970.

Special Mention: As written last week, the Nifty Index closed above 9970 for three consecutive trading sessions and reached our threshold level i.e.,10330, as well it closed yesterday above 10260, but failed to close above 10330, watch today and tomorrow the Index must surpass 10393 and closes above 10330 for three consecutive trading sessions then, it may test the immediate target level 10550 then, further move beyond 10550, may pave the way to test 10770-10990 in the near term, let see whether it surpass yesterday high or not. At the same time, the Index may see weakness only if, trades and closes below 10150 levels for three consecutive trading sessions then, it may re-test 9970-9850 levels very soon. The Investor/trader be cautious at the higher levels since, the F&O expiry falls this week, the volatility may rule the market, yesterday's late hour sell-off confirms the same.

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.