28.07.2020 Tuesday, 8.36 am 

Hi Readers

What has happened on yesterday? Nifty Index, as written and expected opened with positive note at our resistance band i.e.,11200-11240, made a open and high at 11225, thereafter, the weakness dragged the Index till our support level i.e., 11090, made a day low at 11087.85, further the volatile move lifted the Index till 11180 and closed at 11131.80 on a negative note. 

What will happen today? Nifty Index may open on a positive note with gap up by tracking the global indices to test 11175-11225 if open, trade and sustain above 11225 then, it may test 11240-11280-11330-11375-11430 levels. On the other hand, the immediate support lies at 11165-11115, if trade and sustain below 11115 then, the Index may re-test 11090-11050-11010-10995-10960-10900-10820 levels

Special Mention: Yesterday also the Nifty Index, neither broken 11240 on the higher side, nor broken 11056 levels on the lower side, it was traded in a range between 11225-11087, watch today 11225-11240-11280 level to surpass and sustain, if the Index moves above 11280 then, the strong resistance lies at 11375, as written since last week, if the Index surpass and close above 11375 then, the Index may test 11430-11535-11630 levels before this week end. At the same time, the Index may try to take support 11090-11055, any weakness cum sell-off below 11055 then, it may re-test 10995-10900, further down move below 10900 then, the Index may test 10820-10770-10560 levels in the near term, we can expect high volatility this week, since the F&O expiry and month end also falls this week.

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, which will help the traders/investors to know about the Index weekly hurdle and support levels and I hope it will 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.