10.09.2020 Thurssday, 8.45 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written, opened on negative note at 11218.60, our expected opening band 11290-11250 and took support 11210 thereafter, it moved up till 11280, once again the volatile move dragged te Index till our further support level i.e, 11190, made a day low at 11185.15, the last hour intra short covering lifted the Index to the high level, made a day high 11298.15 and closed at 11278 on negative note. 

What will happen today? Nifty Index may open on a positive note to test 11290-11325, if open, trade and sustain above 11325 then, the Index may test 11360-11385-11415-11437-11465-11490-11500 levels. On the other hand, the immediate support lies at 11250-11210-11185 if, trade and sustain below 11185 then, the Index may try to test 11155-11111-11060 levels.

Special Mention: Yesterday, as written the Nifty Index tested and broken 11250 level, I clearly mentioned that, it may violate this level for a short span and it make support at 11200, further mentioned it may try to close above 11250 levels, the same way Nifty Index traded and took support at 11190 and moved up and closed well above 11250, today the Nifty Index must surpass above 11300-11350 levels, if the Index closes above 11350 for three consecutive trading sessions then it may re-test 11440-11585-11650 levels in the near term. At the same time, the weakness now lies below 11250-11185, further down move below 11185, then the Index may test 11111-11060-10990-10880 levels very soon. 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 11290-11325 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, will add fuel to the volatiliy till tomorrow, being 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 11200-11110 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.