09.09.2020 Wednesday, 8.47 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written, opened on flat to positive note at 11378.55, our expected opening band 11360-11380 and took support 11330 thereafter, it moved up till our resistance level i.e,11420, made a day high at 11437.25, the last hour weakness cum sell-off dragged the Index till our further support level i.e., 11280, made a day low 11290.45 and closed at 11317.35 on negative bias. 

What will happen today? Nifty Index may open on a negative note to test 11290-11270-11250, if open, trade and sustain below 11250 then, the Index may test 11220-11190-11160-11145-11111 levels. Likewise, the immediate resistance seen at 11303-11330-11345 if, trade and sustain above 11345 then, the Index may try to re-test 11380-11415-11437-11460-11490-11520-11560 levels.

Special Mention: Yesterday, though the Nifty Index tried and tested 11430, but unable to surpass and sustain this level, witnessed a sell-off once again till 11290 and failed to close above 11330, today the Nifty Index may re-test once again 11250, if moves below 11250 and sustain below then, it may take further support at 11190-11111 levels, even if the Index violate 11250 for a short span, it should not sustain below this level and a close is must above 11250-11290 levels. At the same time, hereafter the positive momentum may come only above 11305-11380 to move again and should close for three consecutive trading sessions above 11380 to re-test 11460-11585 levels in the near term. I expect the range bound move in the Index between 11200-11600 for some more time with broad range consolidation. Lets see, how it opens near 11270-11250 levels. The global weakness, Indo-china border tension and high valuation, causes concern, may arrest the upper move for time being and the Index may trade with downward bias, the Intraday volatility already rised, the weekly option expiry falls tomorrow, will add fuel to the volatiliy till the week-end, trade with caution is our advise.

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 11250-11110 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.