24.06.2020 Wednesday, 8.39 am 

Hi Readers

What has happened on yesterday? Nifty Index as written and expected opened with positive note made a open at 10347.95, which was our resistance zone i.e.10330-10360, thereafter, the mild sell-off dragged down the Index and made a day low at 10301.75, further upward rally lifted the Index throughout the day with volatile move and almost tested our resistance level 10490, made day a high 10484.70 and closed the day at 10471 on a positive bias. 

What will happen today? Nifty Index may open on a flat to positive note to test 10484-10540 if open, trade and sustain above 10540 then, it may test 10585-10630-10660-10705-10770. On the other hand, the immediate support lies 10440-10395, if trade and sustain below 10395 then, it may re-test 10330-10295-10260-10205-10160.

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 yesterday, it tested 10484.70 and closed above 10330, watch today and tomorrow the Index must surpass 10540-10550 and closes above 10550 for three consecutive trading sessions then, it may test the immediate target level 10660-10770 then, further move beyond 10770, may pave the way to test 10990 in the near term, let see whether it surpass yesterday high and 10540-10550 or not. At the same time, the Index may see weakness only if the index, trades and closes below 10330 levels for three consecutive trading sessions then, it may re-test 10150-9970-9850 levels in the near term. The Investor/trader be cautious at the higher levels i.e.10500-10550, the Index may witness a technical sell-off till 10330-10260 either today or before Friday, the volatility also may rise since, the F&O expiry falls tomorrow.

Trading Strategy: The Investor/trader may book profit, if 10550-10660 levels not broken either today or before this week and re-invest at 10000-9800 levels in the Nifty 50 stocks 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.