03.07.2020 Friday, 8.40 am 

Hi Readers

What has happened on yesterday? Nifty Index as expected and written opened on a positive note with gap up at 10493.05, which was our resistance band i.e.,10475-10515, made a opening low at 10490 thereafter, the upward rally lifted the Index till our further resistance levels 10550, made a high 10542, further a mild profit booking dragged the Index and made a day low by noon session till 10485.85, the Index took support at 10485, started the rally once again and moved beyond the threshold level 10553, traded near resistance level i.e.,10600, made a day high at 10598.20 and closed the Index at 10551.70 on a positive bias. 

What will happen today? Nifty Index may open on a positive note to test 10595-10630 if open, trade and sustain above 10630 then, it may test 10660-10710-10770-10840-10990. Likewise, the immediate support lies at 10550-10515, if trade and sustain below 10515 then, it may re-test  10480-10445-10400-10335-10300.

Special Mention: Yesterday, the Nifty Index re-tested and surpassed above our threshold level i.e., 10550 and tested near 10600, further it closed well above 10550, watch today 10600-10660 if, the Index able to trade above 10600 and closes above 10550 today and tomorrow then, the Index may reach 10770-10990 very soon. At the same time further weakness is possible only, when the Index closes below 10300 for three consecutive trading sessions then, it may re-test 10200-10000-9890 levels. Let see how it trades and closes today, being a week end a mild sell-off possible today or the sell-off may emerge on Monday till 10445-10400-10335 levels, let us wait and watch what is going to happen?. 

Trading Strategy: The Investor/trader may exercise due caution at the higher levels i.e 10550-10990, the profit booking area lies at these levels if, unable to cross and closes above these levels 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.