17.08.2020 Monday, 8.43 am 

Good Morning followers & readers

What has happened on Friday? Nifty Index, as expected and written, opened on a flat to positive note at our resistance band i.e., 11335-11375, made a open 11353.30 thereafter, the Index moved near our further resistance level i.e., 11375, made a day high 11366.25, further the Index wintessed a major weakness cum sell-off dragged the Index till our final support level i.e., 11125, briefly broken 11125, made a day low 11111.45 and closed at 11178.40 on a negative note. 

What will happen today? Nifty Index may open on a positive note with gap up by tracking global indices to test 11210-11240-11275 if open, trade and sustain above 11275 then, it may test 11295-11340-11375-11435-11495-11535 levels. Likewise, the immediate support lies at 11175-11140, if trade and sustain below 11140 then, the Index may re-test 11111-11065-11010-10990-10960 levels.

Special Mention: On Friday also, the Nifty Index tried to surpass above 11375, but unable to do that and got sold-off once again till our threshold support level ie., 11125 and closed will above 11140, today the Index once again, may try to re-test 11260-11340, if it is able to test 11340, then 11375-11435 will act as major resistance, today if the Index able to close above 11260-11340 then, it may reach 11435-11535 levels by this week. At the same time, the weakness now lies at 11260-11290-11340 any sell-off once again at these levels, may drag the Index till 11210-11170-11111, further weakness below 11111, then the Index may test 11065-11040, any close below 11125-11040 today, the Index may re-test 10990-10940-10880 levels in the near term. It looks the Index may consolidate in a broader range between 11340-11040 with down ward bias, let see how it open and trades at 11240-11300 levels.

Trading Strategy: The Investor/trader, those who booked profit at 11375 levels, may strart invest in Nifty50 stocks for the short term gain of 5-10% return, when the Nifty Index moves to 11040-10960-10880 levels. 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.