22.07.2020 wednesday, 8.36 am 

Hi Readers

What has happened on yesterday? Nifty Index, as written and expected opened with a positive note with gap up exactly at our resistance band i.e.,11080-11125, made a open at 11126.10, moved up till 11164, thereafter, the Index witnessed a mild sell-off and made a day low at 11113.25 and consolidated till 2.30 pm, further it moved our threshold resistance level i.e, 11180, made a day high at 11179.55 and closed at 11162.25 on a  positive note. 

What will happen today? Nifty Index may open on a flat to positive note to test 11180-11200 if open, trade and sustain above 11200 then, it may test 11240-11280-11345-11375 levels. On the other hand, the immediate support lies at 11150-11115, if trade and sustain below 11115 then, the Index may re-test 11075-11040-11015-10995-10950-10895 levels.

Special Mention: Nifty Index, yesterday also moved up till our threshold level i.e, 11180, watch today 11180-11200 to break, sustain and close above 11180 then, the Index may test 11240-11380 levels before this week end, further upmove is possible, when the Index closes above 11380 then, it may test 11430-11550-11640 before July'20. At the same time, the Index may take support at 11050-10990, further any weakness below 10990, then the Index may re-test 10890-10750-10560 levels. As written yesterday the Index may witness a technical sell-off today or atleast by this week end to re-test 11000-10930 levels, let see how it open and trade today. The Option weekly expiry falls tomorrow, hence prepare for more volatility move in the Index today, until Friday.

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 11180-11280-11370 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.