29.07.2020 Wednesday, 8.49 am 

Hi Readers

What has happened on yesterday? Nifty Index, contrary to our expectation opened with flat to positive note at 11154.10, made a day low 11151.40 thereafter, it moved up till our resistance band i.e, 11175-11225, made a high at 11223, further the weakness dragged the Index till the day low, traded in the range till noon session, thereafter the strong up ward move lifted the Index beyond the threshold level 11240-11280 and tested till near our further resistance level i.e., 11330, made a day high at 11317.75 and closed at 11300.55 on a positive bias. 

What will happen today? Nifty Index may open on a positive note to test 11320-11330 if open, trade and sustain above 11330 then, it may test 11375-11390-11430-11485-11535 levels. Likewise, the immediate support lies at 11290-11240, if trade and sustain below 11240 then, the Index may re-test 11225-11195-11150-11085-11060 levels

Special Mention: Yesterday the Nifty Index, broken 11240-11280 and made a high 11317.75 and closed well above 11280 levels watch today, if the Index able to surpass, sustain and close above 11330-11375, then next hurdle placed at 11440-11535-11620, as written since last week, I mentioned that, the Index upward momentum may continue till this weekend to test 11330-11375, as expected, the Index is continuing the upward rally, also it was not broken the major support level of 11055 so far. Hereafter, any weakness now only if, the Index moves and closes below 11230 for three consecutive trading session then, it may re-test 11055-10865 levels in the near term, we can expect a volatle move today, tomorrow and on Friday due to the F&O expiry and July month end. Please be cautious at the higher levels.

Trading Strategy: The Investor/trader who Invested at 10560 levels in the equity segment especially in the Nifty 50 stocks, book profit if, the Nifty index does not break above 11375-11440-11535 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.