21.07.2020 Tuesday, 8.39 am 

Hi Readers

What has happened on yesterday? Nifty Index, as written and expected opened with a positive note but, with a gap up beyond our resistance band i.e., 10912-10935, thereafter, the Index traded with positive note and consolidated between 11017-10950, the late hour up move lifted the Index till our further resistance level i.e, 11040, made a day high at 11037.90 and closed at 11022.20 on a  positive note. 

What will happen today? Nifty Index may open on a  positive note with a gap up by tracking the global indices to test 11080-11125 if open, trade and sustain above 11125 then, it may test 11180-11240-11280-11345-11375 levels. Likewise, the immediate support lies at 11035-10990, if trade and sustain below 10990 then, the Index may re-test 10940-10895-10845-10770-10750 levels.

Special Mention: Nifty Index, yesterday, able to close above the major threshold level i.e., the long term moving average-200 DMA level and tested 11037 watch today 11125-11180 to break, sustain and close above 10990-11035 then, the Index may test 11245-11380 levels before this week end. At the same time, the Index may witness a technical sell-off today or tomorrow or atleast by this week end to re-test 10890-10750 levels, further weakness below 10750 then, the Index may take support at 10675-10555 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 11125-11185 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.