31.07.2020 Friday, 8.44 am 

Hi Readers

What has happened on yesterday? Nifty Index, as written and expected opened with positive note above our resistance band i.e, 11225-11245, made a open at 11254.30, thereafter, it moved up till our further resistance level i.e, 11285, made a day high at 11299.95, further the weakness cum profit booking dragged the Index throughout the day till our support level i.e, 11087, made a day low exactly at 11084.95 and closed at 11102.15 on a negative bias. 

What will happen today? Nifty Index may open on a flat note to test 11115-11150 if open, trade and sustain above 11150 then, it may re-test 11190-11225-11240-11285-11320-11340-11380 levels. Likewise, the immediate support lies at 11085-11055, if trade and sustain below 11055 then, the Index may test 11030-10995-10950-10895-10860 levels.

Special Mention: Yesterday also the Nifty Index tried to surpass above 11330-11375 but unable to even cross 11300, the sell-off dragged the Index beyond 11150 and tested 11085 and closed below 11150. To-day, we must watch 11060-11030 level to hold the Nifty Index else, the weakness drag the Index till 10860-10770-10550 levels in the near term. At the same time, the Index must move and sustain above 11195, if able to trade above 11195, then the Index may test 11240-11300-11340-11380, we expect a range bound trade between 11030-11380, let see, how it open and trades today, being a week-end and month-end, can expect a volatile trade.

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.