Support at 10,000 (4 June 2020)

Support at 10,000 (4 June 2020)
Resistance 1 :  10,060           Resistance 2 : 10,130
Support 1  :      10,000            Support 2:       9,940
 
Nifty yesterday closed with a gain of 82 points.
Market reacted from higher levels. 
A flat/negative opening is possible, due to global trends.
 
In-case of a recovery, then the next resistance above is at 10,060.
Market has to sustain above 10,060 for a further uptrend.
 
Then the next resistance above is at 10,130.
 
Market has to close above 10,000, for a positive trend.
 
- Nifty in a reaction, then intra-day support below is at 10,000.
In-case of a trading below 10,000, then it indicates a further weakness.
 
Then the next major support below is at 9,940.
Only in-case of any close below 9,940, then it indicates a short-term weakness.
 
- V. Sundar  Raja, Research Analyst