23.07.2020 Thursday, 8.39 am 

Hi Readers

What has happened on yesterday? Nifty Index, as written and expected opened with a positive note beyond our resistance band i.e.,11180-11200, made a open and high near at 11238.10, which was our further resistance level ie., 11240, thereafter, the Index witnessed a sell-off till our support level i.e, 11040, made a day low 11056.55, further the volatile move lifted the Index and closed at 11132.60 on a negative note. 

What will happen today? Nifty Index may open on a flat to negative note to test 11125-11095 if open, trade and sustain below 11095 then, it may test 11060-11035-10994-10955-10890 levels. Likewise, the immediate resistance seen at 11155-11185, if trade and sustain above 11185 then, the Index may test 11200-11240-11285-11330-11375 levels.

Special Mention: Nifty Index, as written since Tuesday, the technical sell-off possible from the high level, as expected the Index made a high 11238, thereafter the sell-off dragged till 11056, watch today 11060-11040 levels, if breaks and sustain below these levels, then the weakness may drag the Index further down till 10955-10850 levels very soon. At the same time, the Index may face resistance at 11180-11240 levels, further rally is possible only when, the Index move above 11240-11280 then, the threshold level 11375 may act as a strong hurlde, if surpass and close above 11375 then, the Index may test 11430-11535-11630 levels, let see how it open and trade today, the Option weekly expiry falls today, hence may expect more volatility move in the Index today and tomorrow.

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 11240-11280-11370 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.