30.07.2020 Thursday, 8.36 am 

Hi Readers

What has happened on yesterday? Nifty Index, contrary to our expectation opened with negative note at our support band i.e, 11290-11240, made a open at 11276.90, thereafter, it moved up till our resistance band i.e, 11320-11330, made a day high at 11341.40, further the weakness dragged the Index throughout the day till our support level i.e, 11150, made a day low exactly at 11149.75 and moved up again on short covering and closed at 11202.85 on a negative bias. 

What will happen today? Nifty Index may open on a flat to positive note to test 11225-11245 if open, trade and sustain above 11245 then, it may test 11285-11340-11380-11430-11485-11535 levels. On the other hand, the immediate support lies at 11185-11150, if trade and sustain below 11150 then, the Index may re-test 11120-11087-11060-11020-10995 levels

Special Mention: Yesterday also the Nifty Index, briefly tested our threshold level i.e,11330, but unable to sustain above 11330, the profit booking dragged the Index till 11150 and closed below 11280, today, the Index must cross and sustain above 11245-11285 once again then, it may re-test 11330-11375, if sustain and close above 11330-11375, then next hurdle placed at 11440-11535-11620 in the near term. As written, since last week 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 below 11150-11060 and closes below 11060 for three consecutive trading session then, it may re-test 10950-10830 levels in the near term. We can expect a volatile move today and tomorrow due to 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 11330-11375 levels and start invest again in the Nifty50 stocks for a short term gain between 5-15%, when the Nifty Index moves near 10900-10700-10550 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.