02.07.2020 Thursday, 8.36 am 

Hi Readers

What has happened on yesterday? Nifty Index as expected and written opened on a positive note at 10323.80, which was our resistance band i.e.,10320-10345, made a day low 10299.60 thereafter, the non-stop rally lifted the Index till our further resistance levels 10440, made a day high 10447.05, not major profit booking seen and closed the Index at 10430.05 on a positive bias. 

What will happen today? Nifty Index may open on a positive note with a gap up by tracking global indices to test 10475-10515 if open, trade and sustain above 10515 then, it may test 10550-10600-10650-10710-10770. On the other hand, the immediate support lies at 10445-10400, if trade and sustain below 10400 then, it may re-test  10360-10330-10300-10260-10200-10120.

Special Mention: Yesterday, the Nifty Index surpassed above 10410 and made high at 10447 and closed well above 10330-10410 levels, today it may try to test 10475-10550, if the Index closes above 10410-10550 for three consecutive trading sessions then, it may test 10770-10990 levels in the near term. At the same time further weakness is possible only, when the Index closes below 10195 for three consecutive trading sessions then, it may re-test 10000-9890 levels. Let see how it trades and closes today, being a weekly option expiry, volatile move is also possible. 

Trading Strategy: The Investor/trader may exercise due caution at the higher levels i.e 10550 if, unable to cross and closes above this level then, book profit in the equity segment and invest in the Nifty 50 stocks, when the Nifty Index trades near 10000-9800 levels, for a short term gain around 10-15%. 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.