15.07.2020 Wednesday, 8.44 am 

Hi Readers

What has happened on yesterday? Nifty Index, as written and expected opened on a negative note with gap down at our support band i.e.,10770-10715, made a day high 10755.65 thereafter, the sell-off dragged the Index throughout the day till our threshold support i.e, 10555, made a day low 10562.90 and closed at 10607.35 on a negative note. 

What will happen today? Nifty Index may open on a positive note with mild gap up by tracking the global indices to test 10630-10675 if open, trade and sustain above 10675 then, it may re-test 10690-10730-10755-10795-10820-10850-10890 levels. Likewise, the immediate support lies at 10595-10560, if trade and sustain below 10560 then, it may test 10540-10505-10450-10410-10360-10330-10280 levels.

Special Mention: Nifty Index, yesterday continued the sell-off till our major threshold cum support level i.e., 10555, as written earlier, the sell-off cum profit booking dragged the index, today it may consolidate between 10750-10560 further, the Index if, trade, sustain and close below 10555 then, the weakness may drag the Index till 10450-10330-10200 in the near term. At the same time if, the index moves above 10750-10770 and closes above 10770 once again may try to re-test 10850-10890 levels very soon, further the Index, as stated last week may take fresh directional upmove till 11375-11615, if it closes above 10890 for three consecutive trading sessions. Also remember, I wrote last week it self, it is not so easy to surpass and closes above the long term simple Daily Moving Average i.e., 200 DMA, which lies at 10885, also i had written before any directional up move, the Index may consolidate for some time between 10550-10900 levels. Let see, how it trades today and tomorrow since, the Option weekly expiry falls tomorrow, the voaltility may rule the market today and tomorrow.

Trading Strategy: The Investor/trader may Invest partially in the equity segment especially in the Nifty 50 stocks if, the Nifty index does not break below 10550 levels,  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.