04.09.2020 Friday, 8.45 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written, opened on a positive note at 11566.20, our expected opening band 11560-11590 and made a day high at 11584.95 thereafter, the Index got sold-off with volatile move dragged the Index till our support band i.e, 11510-11475, made a day low at 11507.25 and closed at 11527.45 on a flat to negative bias. 

What will happen today? Nifty Index may open on a negative note with gap down by tracking the global indices to test 11470-11430, if open, trade and sustain below 11430 then, the Index may re-test 11390-11365-11326-11290 levels. On the other hand, the immediate resistance seen at 11510-11560 if, trade and sustain above 11560 then, the Index may re-test 11585-11615-11655-11690-11735 levels.

Special Mention: Yesterday, the Nifty Index able to cross our thershold level i.e, 11560, though it tried and tested 11584.95 at the opening move but unable sustain above 11560 and failed to close above this level, which shows the weakness, that may give the answer today by opening move with gap down, the important question whether will it hold 11430-11400 or not ? I hope 11430-11400 may hold the Nifty Index today and trade between 11400-11560, further move only possible if, the Index break either of this trading range, the weakess below 11400 then, the Index may test 11360-11325-11290 or if moves above 11595-11625 then, the Index may test 11735-11795-11870 by next week. As expected the volatility also on a rising mode, today being a week-end, we can expect more volatile move, please be cautious. The recent imposition of SEBI rule about cash segment margin and delivery rules created unpleasantness among the traders and higher premium valuation (Price Earnings-PE is over 33 times) also causing concern hence, these factors may arrest the Nifty Index upmove above 11600-11700 for the time being.

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. Further investment can be done 11300-11100 levels, when the Nifty trading if moves there, for the short term gain around 5-10%.

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.