14.08.2020 Friday, 8.39 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written, opened on a positive note at our resistance band i.e., 11325-11345, made a open 11334.85 thereafter, the Index moved near our further resistance level i.e., 11375, made a day high 11359.60, further the Index wintessed a sell-off and moved down till our support band i.e., 11280-11240, made a day low 11269.95, the weekly option expiry volatility ruled the Index and closed at 11300.45 on a flat to mild negative note. 

What will happen today? Nifty Index may open on a flat to positive note to test 11335-11375 if open, trade and sustain above 11375 then, it may test 11410-11435-11465-11495-11535 levels. On the other hand, the immediate support lies at 11270-11240, if trade and sustain below 11240 then, the Index may re-test 11205-11175-11140-11125 levels.

Special Mention: Yesterday also, the Nifty Index tried to surpass above 11375, but unable to do that and got sold-off once again till 11270 and closed once again above 11300, today we must watch 11360-11375 to surapss, if break these levels and close above 11345-11375 today and Monday then, the Index may test 11435-11535-11620-11750 levels very soon. At the same time, the weakness now lies only below 11240 any further down move and close below 11240, may drag the Index to re-test 11140-11060-10990-10880 levels in the near term. It looks the Index is consolidating between 11375-11240 and getting ready for further move, the big question is lies here, where will the Nifty Index heading today and next week?, either to test 11140-10880 levels on the lowerside or to test 11435-11620 levels on the upperside, only the time has to answer for this question, the probability is 50:50 chance to test either of this levels. The week-end factor add more fuel on the intraday volatility, please trade with caution at the higher levels.

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

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Wishing you for a safe, secured and profitable trading.