07.09.2020 Monday, 8.46 am 

Good Morning followers & readers

What has happened on Friday? Nifty Index, as expected and written, opened on a negative note with gap down at 11354.40, our expected opening band 11470-11430 and took support at 11360 and moved up and made a day high at 11452.05 thereafter, the Index got sold-off with volatile move dragged the Index near our final support level i.e, 11290, made a day low at 11303.65 and closed at 11333.85 on a negative bias. 

What will happen today? Nifty Index may open on a flat to negative note by tracking the global indices to test 11325-11290, if open, trade and sustain below 11290 then, the Index may test 11267-11235-11195-11145-11111 levels. Likewise, the immediate resistance seen at 11360-11410 if, trade and sustain above 11410 then, the Index may re-test 11450-11475-11505-11555-11585 levels.

Special Mention: On Friday, the Nifty Index lost the upward momentum and unable to cross our thershold resistance level i.e, 11460, though it tried and tested 11452 at mid-session but failed to surpass 11460, further the weakess dragged once again near 11300, we must closely watch 11325-11290 level today, if the Index break this level, sustain below then, it may re-test 11240-11190-11111 levels very soon. At the same if the Index able to hold at 11325-11290-11240, then it may try to move up once again to re-test 11450-11560-11585-11660-11735 in the near term.  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 roaming around 32-33 times) also causing concern hence, these factors may arrest the Nifty Index upmove at 11600-11700 for the time being.

Trading Strategy: The followers/readers, if you want invest in Nifty50 stocks which was corrected in the recent fall for more than 10-20% or Low PE stocks for a short term gain for 5-10%, when the Nifty trades near 11290-11110-10880 levels.

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.