NIFTY OUTLOOK & OPTION CALL PUT TIPS FOR 12 JUN 2020

TO GET SUCH CALLS LIVE ON WHATSAPP PING ON WHATSAPP NUMBER 9039542248 

Bears tighten their grip on dalal Street & took the indices 2% down. The market had opened higher, shrugging off worries over the US Federal Reserve's grim outlook for a speedy economic recovery. However, the opening gains were soon erased as fears of a second wave of coronavirus and the Supreme Court's (SC) observations in the adjusted gross revenue (AGR) case weighed on market movers. the Sensex fell 708 points, to 33538, Nifty settled 214 points lower at 9902.

There is clear sign of weakness at higher levels when observing the lower time frame charts of the Nifty. The bulls managed to protect the 9900-mark on the Nifty after falling briefly below that level. As we move into Friday, we believe the range of 9800 -10000 will be critical. For the bulls, upper level of descending triangle and the 89-day exponential moving average act as a very strong resistance. It will be difficult to predict which way markets are headed until we see a decisive break on either side of the range.
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Resistance: 10000, 10500

Support: 9800, 9300