25.06.2020 Thursday, 8.42 am 

Hi Readers

What has happened on yesterday? Nifty Index as written and expected opened with flat to positive note made a open at 10529.15, which was our resistance zone i.e.10484-10540, thereafter, the Index tested our threshold level 10550, made a day high at 10553.15, further the profit booking cum sell-off dragged the Nifty index till 10440, once again the volatile move lifted the Index near day high, the late hour sell-off dragged down and made a day low 10281.95 and closed the day at 10305.30 on a negative bias. 

What will happen today? Nifty Index may open on a negative bias with gap down by tracking the global indices to test 10200-10150 if open, trade and sustain below 10150 then, it may test 10120-10070-9970-9845. Likewise, the immediate resistance seen at 10260-10330, if trade and sustain above 10330 then, it may re-test 10390-10440-10480-10530-10550-10630.

Special Mention: As written since first week of June, if the Nifty Index closes above 9970-10330 may test 10550 in the near term, as expected the Index closed above 9970 and tested 10330 then moved further and yesterday reached our ultimate threshold level i.e.,10550. As anticipated the technical sell-off also started from 10550 to 10281.95 yesterday itself, we should see how it holds today near 10200-10150-10040 levels, any close below 10200-9970 for three consecutive trading sessions then it may re-test 9845-9725-9545 levels in the near term. At the same time, the Index should close above 10330 again and break above 10550 then, it may test 10660-10770-10990 in the near term, it looks the Index may consolidate between 10550-10000 levels for some more time. The F&O expiry falls today and next week till Tuesday we can expect more volatility since, month and quarterly end falls coming Tuesday.

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.