Nifty 50 Intraday & Expiry Day Trade Setup for 18th June 2020

Good Morning Friends,

First, accept my apologies for not posting the morning view regularly. I am a lazy and self-satisfied person but trying my best to post my view regular so you guys can get my detailed view before the trading session yesterday Index has given a sideways momentum and trade in a range, well it was expected and most of time happened on Wednesday trading session just because of managing the options strike prices. Let's Talk about today's Key Factors.

Key Factors
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1- SGX morning session will start in 30 minutes. in Night index was closed on a flat note.
2- USA index Dow Trading on 25968, slips more than 500 plus points in overnight.
3-The geopolitical tension between India and China has brought back the risk-off mood in investors.
4- Gross advance tax collection down 31%. Net advance collection 32.3 % down. Corporate tax downed 79%.
5- Crude is steady and strong.


Technical View
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Most of things already explained on the chart. This is infection point and bull and bear both are confused, where to go?

Resistance: Intraday resistance is sitting on 10,040 and we can see a move on the breakout. Nifty Key resistance is om 10,450-10,570...
Support: Intraday support is on 9,800 and key support of Nifty is on 9,600.

Trade Setup :
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Long: 10,040 sl : 9,990 Target : 10,090/10,130/10,170
Short: 9,830 sl: 9,890 Traget : 9,790/9,720/9,690

My Trade Setup: I have a plan to write a 10,100 call and 9,700 Put. Both will be zero at the end of the day

Disclaimer: I am not a SEBI Registered Research Analyst and all the information provided here is for educational purposes Views are shared based on market research and study and personal in nature. Others can take different views and opinions.

Good Luck and Happy Trading
Virendra Pandey