13.08.2020 Thursday, 8.42 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written, opened on a negative note at our support band i.e., 11310-11280, made a open 11289 thereafter, the Index moved till our further support level i.e., 11240, made a day low 11242.65, further the Index moved up till 11322 and closed at 11308.40 on a flat to negative note. 

What will happen today? Nifty Index may open on positive note to test 11325-11345 if open, trade and sustain above 11345 then, it may test 11375-11410-11435-11465-11495-11535 levels. Likewise, the immediate support lies at 11280-11240, if trade and sustain below 11240 then, the Index may re-test 11220-11200-11185-11140-11125 levels.

Special Mention: Yesterday, as written and expected the Nifty Index almost tested our major support i.e, 11240, made a day low 11242.65, took support and moved up till 11322, today we must watch 11345-11375 to surapss, if break these levels and close above 11345-11375 for three consecutive trading sessions then, the Index may test 11435-11535-11620-11750 levels very soon. At the same time, the Nifty Index weakness now lies only below 11240-11125 any further down move below 11125 and close below 11140-11125, may drag the Index to re-test 11060-10990-10880 levels in the near term. Let see, whether the Index consolidate between 11375-11150 or break either of these range, the Option weekly expiry and tomorrow's week-end factor add more fuel on the intraday volatility, please trade with caution at the higher levels and safe trader avoid long position.

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. 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.