11.09.2020 Friday, 8.41 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written, opened on positive note at 11363.30, our expected opening band 11290-11325 and made a opening low at 11327.40 thereafter, the non-stop rally lifted the Index till 11445, the weekly option expiry volatility dragged the Index in breif period and moved up again at the closing hour, tested our resistance level i.e., 11465, made a day high 11464.05 and closed at 11449.25 on positive bias. 

What will happen today? Nifty Index may open on a flat note with positive bias near 11430-11410, if open, trade and sustain below 11410 then, the Index may re-test 11365-11330-11290-11250-11220-11185 levels. On the other hand, the immediate resistance seen at 11465-11500 if, trade and sustain above 11500 then, the Index may try to re-test 11540-11585-11615-11660 levels.

Special Mention: Yesterday, as written the Nifty Index surpassed above 11350 and tested 11440, further it was closed very well above 11350, as a first trading session, the Index should move above 11465 and continue to close above 11350, today and Monday then, the Index may re-test 11585-11660-11735-11800 levels in the near term. At the same time, the weakness now lies below 11290, further down move below 11290, then the Index may test 11185-11111-11060-10990-10880 levels in ther near term. I maintaining my view, as stated earlier, the Nifty Index may trade in the range bound move between 11200-11600 for some more time with broad range consolidation. Lets see, how it opens near 11430-11410 levels, the Intraday volatility already rised, today being a week-end, the volatility may rise, trade with caution at the high level.

Trading Strategy: The followers/readers, those who invested in Nifty50 stocks, when the Nifty tested 11200, may start partial profit booking for 5-10%, when the Nifty trades near 11500-11600 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

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Wishing you for a safe, secured and profitable trading.