17.02.2020 Monday, 8:33 am 

What has happened on Friday? Nifty index as written and expected opened on a positive note and moved beyond our first level resistance i.e. 12225, made a day high 12246.70 thereafter, the Index till midsession moved down due to the Supreme Court ruling against the telecom companies, the weakness cum sell-off dragged the Index till our support levels i.e 12105-12085, made a low 12091.20 and ended the day with volatile move at 12113.45 with negative bias.

What will happen today? Nifty Index today may open on a positive note to test 12150-12175, further move above 12175 then, it may test 12200-12225-12270-12300. Likewise, the immediate support lies at 12125-12090 further weakness below 12090 then, it may re-test 12050-12020-11990-11930. 

Special Mention: Nifty Index if, closes above 12160 for three consecutive sessions then, it may test 12270-12330-12430 very soon. Any move below 12085, sustain and closes below 12085 then, it may re-test 11930-11830 in the near term.

Trading Strategy: Watch 12270-12325 in Nifty Index to take SELL in Nifty futures on the upperside or  watch 12085-12000 levels to BUY Nifty Futures Feb'20 contract. For further details please do call us on 98410 48022/90805 71223 or contact thro' whatsapp: 99624 70636.

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