21.08.2020 Friday, 8.43 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written, opened (11317.45) on a negative bias with gap down at our support band i.e.,11340-11290 and made a low 11292, thereafter, the Index was moved till our resistance band ie.,11340-11375, made a day high 11361.45, once again it moved down due to weekly option expiry volatility and made a day low 11289.80 and closed at 11312.20 on a negative note. 

What will happen today? Nifty Index may open on a positive note by tracking global indices to test 11360-11395 if open, trade and sustain above 11395 then, it may re-test 11410-11440-11460-11505-11535-11570 levels. Likewise, the immediate support lies at 11340-11290, if trade and sustain below 11290 then, the Index may test 11245-11200-11155-11111-11065 levels.

Special Mention: Yesterday, the Nifty Index as written exactly took support at our threshold level i.e.,11290 and unable to move and close above 11375, today being a week-end, the Nifty Index try to move and close above 11375 and sustain above 11375-11390, then it may try to re-visit 11440-11460, any upmove above 11460, may lift the Index till 11535-11625-11750 levels in the near term. At the same time, the Index trades below 11340-11290, then the weakness cum sell-off may drag the Index  till 11260-11210, further down side move will pave the way to test 11175-11111-11065 levels very soon, let see how it open and trades at 11340-11375 levels, the volatility may be in rising mode due to the week-end factor.

Trading Strategy: Please, the followers/readers keep it your mind, the Nifty Index immediate strong resistance seen at 11395-11460 must surpass to continue the upward bias also the profit booking area may lies at 11440-11535 levels. The Investor/trader, stay cautious at the higher levels and wait for any dips till 11140-11060-10940 to invest in Nifty50 stocks for the short term gain of 5-10% return. Avoid agressive long position in F&O segment. 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.