20.07.2020 Monday, 8.43 am 

Hi Readers

What has happened on Friday? Nifty Index, as written and exxpected opened with a gap up near our resistance band i.e., 10755-10770, made the day low at 10749.65, thereafter, the Index traded with positive note and consolidated till 1.30 pm in the range between 10830-10780, the late hour up move lifted the Index till our resistance level i.e, 10935, made a day high at 10933.45 and closed at 10901.70 on a  positive note. 

What will happen today? Nifty Index may open on a flat to positive note to test 10912-10935 if open, trade and sustain above 10935 then, it may test 10990-11040-11085-11125-11180 levels. On the other hand, the immediate support lies at 10895-10850, if trade and sustain below 10850 then, the Index may re-test 10825-10790-10755-10705-10675-10630 levels.

Special Mention: Nifty Index on Friday, tested and surpassed the major threshold level i.e., the long term moving average-200 DMA level 10874 and tested 10933 and closes well above the 200 DMA, today watch 10935-10990 to break, sustain and close above 10895-10990 then, the Index may take fresh directional up move till 11035-11185-11245-11380 levels before this week end or before July end. At the same time any weakness at 10935-10990 levels, may drag the index till 10890-10875 once again, further the close below 10875-10850 for three consecutive trading sessions may drag the Index  once again till 10770-10560 levels in the near term. Let see how it open and trades today.

Trading Strategy: The Investor/trader who Invested at 10560 levels in the equity segment especially in the Nifty 50 stocks, start profit booking partially if, the Nifty index does not break above 10990-11035 levels. This is a traders market, to trade for short term gains, rather to wait for long term basis.

Also, I started to write the Nifty Index weekly outlook from last week, which will help the traders/investors to know about the Index weekly hurdles and supports levels and I hope it will help and give more insight about the Nifty index, to read the weekly outlook please, visiit by using the following link: https://www.niftytech.in/marketupdate/62

Further details please do call us on 98410 48022 or contact thro' whatsapp: 99624 70636. Please read carefully, the Disclaimer published on the Disclaimer page. Wishing you for a safe and secured trading.