06.07.2020 Monday, 8.33 am 

Hi Readers

What has happened on Friday? Nifty Index as expected and written opened on a positive note at 10614.95, which was our resistance band i.e.,10595-10630, thereafter, a mild sell-off dragged the Index till 10562.55 by taking the support at our support level i.e., 10550, the Index moved up once again till our resistance level i.e., 10630, made a day high at 10631.30 and closed the Index at 10607.35 on a positive bias. 

What will happen today? Nifty Index may open on a positive bias with a gap up by tracking global indices to test 10660-10715 if open, trade and sustain above 10715 then, it may test 10770-10825-10880-10990-11035. On the other hand, the immediate support lies at 10630-10600, if trade and sustain below 10600 then, it may re-test  10550-10500-10450-10405-10385-10330.

Special Mention: On Friday, the Nifty Index continued its upward journey beyond 10550, it tested 10630 and closed above our threshold level i.e., 10550, being the second trading session, today if it is surpass above 10660 then, it may test 10770-10990 in the near term, further it must close above 10550 today too, else as written on Friday the profit booking cum sell-off, may drag the index till 10550-10450-10330 before this week end. At the same time further weakness is possible only, when the Index closes below 10330 for three consecutive trading sessions then, it may re-test 10200-10000-9890 levels. Let see how it trades and closes today. 

Trading Strategy: The Investor/trader may exercise due caution at the higher levels i.e 10660-10990, 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.