26.08.2020 Wednesday, 8.37 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written, opened on a positive bias at 11513.10, our resistance band i.e,,11490-11497, made a day high 11525.90, thereafter, the Index moved down till our support band i.e, 11460-11410 made a day low at 11423.35 and closed at 11472.25 on a flat note with positive bias. 

What will happen today? Nifty Index may open on a flat note with positive bias to test 11495-11515 if open, trade and sustain above 11515 then, it may test 11535-11555-11575-11625 levels. On the other hand, the immediate support lies at 11460-11423-11410, if trade and sustain below 11410 then, the Index may re-test 11395-11378-11345-11318-11290-11260-11225 levels.

Special Mention: Yesterday, the Nifty Index almost reached the long awaited threshold level i.e, 11535, I am referring this level quite some time, it is none other than, the gap down level made on 27th Feb'20, now all the upside gaps are filled, also the Index tried and closed two consecutive trading sessions above 11460, today it should cross 11536 and close above 11460 then only, further upmove is possible to test the next level 11625-11750 in the near term. At the same, the weakness seen only below 11410-11360, if the Index moves below 11360 then, the sell-off may drag the Index once again till 11290-11190-11110 levels very soon, let see how it open and trades today at 11490-11535 levels, as expected the volatility already in rising mode due to the F&O expiry also, the Index trading at the higher levels.

Trading Strategy: Please, the followers/readers keep it your mind, the Nifty Index immediate strong resistance seen at 11495-11535 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

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Wishing you for a safe, secured and profitable trading.