10.08.2020 Monday, 8.45 am 

Good Morning followers & readers

What has happened on Friday? Nifty Index, as expected and written, opened with flat at our support band i.e., 11190-11150, made a open at 11186.85, thereafter, a mild weakness dragged down and made a day low 11142.05 further, the Index moved up and tested till our reistance band i.e., 11210-11260, made a day high 11231.90 and closed at 11214.05 on positive note. 

What will happen today? Nifty Index may open on a flat to positive note to test 11230-11256 if open, trade and sustain above 11256 then, it may test 11290-11320-11340-11375-11440 levels. Likewise, the immediate support lies at 11205-11175, if trade and sustain below 11175 then, the Index may re-test 11147-11115-11065-11025-10970 levels.

Special Mention: On Friday, the Nifty Index made an inside formation, which infers that, today it must break either 11232-11257 on the higher side to test 11290-11340 or the Index should break below 11142-11127 on the lower side to test 11065-11025-10970 levels, let us wait and watch how it open and trade at these levels. If, the Nifty Index closes above 11260 today and tomorrow then, it may test 11340-11375-11440-11530 levels this week, at the same time, any weakness below 11125-11060 levels and close below 11060 today and tomorrow then, it may test once again 10990-10880 very soon. 

Trading Strategy: The Investor/trader, those who invested in Nifty50 stocks at 10900 levels, try to book the profit for 5-10% return, when the Nifty Index moves to 11260-11340-11440. This is a traders market, to trade for short term gains, rather to wait for long term basis.

Also, read 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, secured and profitable trading.