01.09.2020 Tuesday, 8.50 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written, opened on a positive note with a gap at 11777.55, our resistance band i.e,,11710-11750, made a day high 11794.25, thereafter, the Index got sold-off beyond our support levels i.e, 11460, made day low 11328.85 and closed at 11387.50 on a negative bias. 

What will happen today? Nifty Index may open either on a flat to positive note at 11390-11430, if open, trade and sustain above 11430 then, the Index may re-test 11465-11505-11560-11590-11660-11695-11735 levels or the Nifty may open at 11360-11330, if trade and sustain below 11330 then, the Index may test 11290-11270-11230-11190-11111 levels.

Special Mention: Yesterday, the Nifty Index moved on a gap up and tested till 11794.25, the positive momentum lost within 5 minutes of the opening, the profit booking dragged the Index till the first leg support level i.e, 11560 but the cross border tension triggered the further sell-off and dragged till 11328, since Friday, I clearly given caution about the technical sell-off, even yesterday's outlook written that either today/tomorrow or at least before the week-end, the corrention is anticipated till 11540. It looks Nifty Index may take support at 11300 and may trade in broader range between 11300-11870 for some more time, either of these range must break to test 11190-11111 levels on the lowerside or to break 11660-11735 to test 11795-11870 on the upperside. The Q1 GDP data released yesterday, the Indian Economy shrank to the unprecedented level i.e., -23.90%, this was the expected one and the market is already discounted this data. Let see, how the Nifty Index open and trade and sustain above 11430. 

Trading Strategy: The followers/readers, those who invested in yesterday fall till 11360 levels, you can start partial booking profit if the stocks which you have bought gives the profit 5-10% for the short term gain. 

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.