18.08.2020 Tuesday, 8.33 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written, opened on a positive note with gap up at our resistance band i.e., 11210-11240-11275, made a open 11248.90 thereafter, the Index dragged down till our support band i.e., 11175-11140, made a day low at 11144.50 further the Index was consolidating in a narrow range with volatile move, the last hour upmove lifted the Index once again till 11267.10 and closed at 11247.10 on a positive note. 

What will happen today? Nifty Index may open on a positive note to test 11260-11285 if open, trade and sustain above 11285 then, it may test 11300-11340-11375-11435-11495-11535 levels. On the other hand, the immediate support lies at 11235-11185, if trade and sustain below 11185 then, the Index may re-test 11140-11111-11065-11010-10990-10960 levels.

Special Mention: Yesterday, the Nifty Index tried to take support at 11140 and surpassed above 11260, but unable close above this level, today the Index must trade and sustain above 11260-11300, then it may re-test once again 11340-11375, further the Index able to break 11375 then, it may test 11435-11535-11620 in the near term. At the same time, the weakness now lies at 11140-11111 any sell-off once again below these levels, may drag the Index till 11065-11040, any close below 11140-11111 today, the Index may re-test 10990-10940-10880 levels very soon. It looks the Index may consolidate in a broader range between 11375-11040 with down ward bias, let see how it open and trades at 11260-11300 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.