For the week of June 22 to June 26 2020

Last week we noticed that Nifty had completed two cycles and that the next sub cycle could be bullish as well. We had postulated that this sub cycle, in due course,  may move up to 10500-10600.
Nifty opened the week at 9919 and after making a low of 9726 moved up strongly to make a high of 10272 before closing at 10244.During the previous sub cycle Nifty had hit a high of 10326.75.That is the immediate overhead resistance for Nifty.

As can be seen the current cycle has now consumed 23 days.Previous cycle was 34 days, low to low.We are in the 4th sub cycle which has already consumed 6 days.
We are also moving into a denser sky this week.
Mercury had already turned retrograde.
We had just completed an annular Solar Eclipse, which actually cast its shadow across Ladaak.
During this eclipse, Sun and Rahu were both aspected by Mars.By June 28th this Mars will receive a powerful malefic aspect from Saturn.
Venus will finally turn Direct on June 25, 2020.
With Neptune going retro on June 23, between June 23 and 25, six planets shall be retrograde.
Jupiter also slowly moves towards its conjunction with Pluto.India-China border dispute, uncontrolled COVID, fear of a second way and riots in America are all getting high lighted.
Our expectation for the market is it could be neutral to down for the first two days of the coming week and then  move up once again as its fifth sub cycle.Up move is now getting stretched a little and soon  probably from next week, we may see corrections setting in.
Caution is the word. Mercury is retrograde. So guard against fake moves which can eat up your stop losses. Keep booking profits or else they may quickly vanish!

Regarding Bank Nifty,

it is in a wide trading range. Immediate overhead resistance is 21807.4 and the next is 21967. Supports are at 20939 and 19456 for the week.
Since May 18, Bank Nifty has been performing better than Nifty which is a good sign for Nifty Bulls.

BN has been growing at 21.42% versus 16.11% for Nifty.

Some of the sector indices which have done well or average....

Good to average performers...

Whether this up-move since March 23 2020 is a bear rally or the first leg of a new bull market, it has sure been broad based with lot of stocks participating.
Have a great week!