03.09.2020 Thursday, 8.41 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, contrary to our expectation, opened on a positive note at 11478.55 thereafter, the Index moved up till our resistance band i.e, 11495-11510, made a high 11503 and got sold-off till our support band 11460-11430, made a day low exactly at 11430.40, further the intraday volatility and the late hour upmove lifted the Index till 11554.75 and closed at 11535 on a positive note. 

What will happen today? Nifty Index may open on a flat to positive note at 11560-11590, if open, trade and sustain above 11590 then, the Index may re-test 11615-11655-11690-11735 levels. Likewise, the immediate support lies at 11510-11475 if, trade and sustain below 11475 then, the Index may re-test 11430-11390-11365-11326-11290 levels.

Special Mention: Yesterday, the Nifty Index unable to cross our thershold level i.e, 11560, though it tried at the last minute, able to test 11554.75 but, closed at the day high level, today I hope it may surpass 11560 and if the Index closes above 11560 for three consecutive trading sessions then, it will test 11735-11800-11870 in the near term. At the same time, our suppot band 11430-11360 looks intact, any further weakness below 11360-11330-11290 then, the sell-off may resume to drag the Nifty Index till 11190-11111-11060 levels very soon. I expect for time being the Index may trade between 11700-11300 till this week-end, let see how it opens near 11560 and move further. As expected the volatility also on a rising mode, today being an weekly option expiry and tomorrow's week-end factor, we can expect more volatile move, please be cautious. 

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

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Wishing you for a safe, secured and profitable trading.