11.08.2020 Tuesday, 8.46 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written, opened with positive note beyond our resistance band i.e., 11230-11256, made a open at 11270..25 thereafter, the Index rallied till our further resistance level 11340, made a day high 11337.50, further a mild weakness dragged down and made a day low 11238 and closed at 11270.15 on positive note. 

What will happen today? Nifty Index may open on a positive note  with gap up by tracking the global indices to test 11340-11375 if open, trade and sustain above 11375 then, it may test 11405-11435-11466-11492-11535 levels. On the other hand, the immediate support lies at 11340-11300, if trade and sustain below 11300 then, the Index may re-test 11270-11240-11210-11175-11140 levels.

Special Mention: Yesterday, the Nifty Index almost tested our threshold level i.e., 11340 and got sold-off till 11238, but closed well above 11256, as written yesterday, the Index inside formation pattern made on Friday, given an upper side breakout by breaking 11257 and closed above this level, made a strength to Index to test 11375-11440 levels by today, alreday a gap up sign seen in SGX Nifty, if the Index surpass 11375-11435 and close above 11340 today and tomorrow then, as stated earlier 11535-11625 possible targets in the the near term. At the same time any weakness cum sell-off at  11375--11435 levels, may drag the Index till 11295-11240, further sell-off below 11240 then, the Index may find support at 11140-11060 levels, let us wait and watch how it open and trade today. 

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 11375-11435-11535. 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.