24.08.2020 Monday, 8.40 am 

Good Morning followers & readers

What has happened on Friday? Nifty Index, as expected and written, opened (11409.65) beyond our resistance band.,11360-11395 and made a day high 11418.50, thereafter, the Index was traded most of the session in a range bound and closed at 11371.60 on a positive bias. 

What will happen today? Nifty Index may open on a positive note with mild gap up by tracking global indices to test 11395-11420 if open, trade and sustain above 11420 then, it may test 11440-11460-11510-11535-11570-11625 levels. On the other hand, the immediate support lies at 11375-11355, if trade and sustain below 11355 then, the Index may re-test 11330-11290- 11245-11195-11155-11111 levels.

Special Mention: On Friday, we expected the Nifty Index may close above 11375, though the Index tried hard, but failed to close above this level and the narrow range movement on Friday's trade shows the weakness at the higher levels, no major volume is happening, today the Nifty Index may open on a gap up to test once again 11420-11460, if sustain above 11460 then. the Index  may test 11535-11625 by this week. At the same, the weakness seen only below 11340-11290, if the Index moves below 11290 then, the weakness may drag once again to re-visit 11190-11110 levels this week, let see how it open and trades today at 11390-11440-11460 levels, the volatility may be in rising mode this week due to the F&O expiry.

Trading Strategy: Please, the followers/readers keep it your mind, the Nifty Index immediate strong resistance seen at 11395-11460-11535 must surpass to continue the upward bias also the profit booking area may lies at 11460-11535 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.