24.07.2020 Friday, 8.42 am 

Hi Readers

What has happened on yesterday? Nifty Index, as written and expected opened with flat note at our support band i.e.,11125-11095, made a low at 11103.15, thereafter, the Index rallied till 11225, further the volatile move dragged the Index till 11175, the late hour rally lifted the Index and tested once again 11239.80 and closed at 11215.45 on a positive note. 

What will happen today? Nifty Index may open on a flat to negative note by tracking the global indices to test 11179-11135 if open, trade and sustain below 11135 then, it may test 11105-11060-11020-10995-10960-10900-10825 levels. On the other hand, the immediate resistance seen at 11200-11240, if trade and sustain above 11240 then, the Index may test 11280-11330-11375-11420 levels.

Special Mention: Nifty Index, yesterday not broken 11056 levels, it moved up once again till 11240 and closed well above 11200, today, watch 11240-11280 level to surpass and sustain, if the Index moves above 11280 then, the strong resistance lies at 11375, as written since Tuesday, if the Index surpass and close above 11375 then, the Index may test 11430-11535-11630 levels before next week. At the same time, the Index may try to take support, 11100-11055, any weakness cum sell-off, it may re-test 10995-10900, further down move below 10900 then, the Index may test 10820-10770-10560 levels in the near term, today being a week-end, we can expect volatility and Index will try to close above 10900 today, let see how it open and trade.

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.