14.09.2020 Monday, 8.44 am 

Good Morning followers & readers

What has happened on Friday? Nifty Index, as expected and written, opened on flat note at 11447.80, our expected opening band 11430-11410 and made a day high at 11493.50 thereafter, the mild sell-off dragged the Index till 11419.90, the week-end volatility lifted Index once again near day high and closed at 11464.45 on positive bias. 

What will happen today? Nifty Index may open on a positive bias by tracking the global indices to test 11478-11495-11510, if open, trade and sustain above 11510 then, the Index may re-test 11525-11560-11585-11615-11640-11665-11686 levels. On the other hand, the immediate support lies at 11450-11420 if, trade and sustain below 11420 then, the Index may try to re-test 11400-11370-11345-11327-11298-11252-11185 levels.

Special Mention: On Friday, as written the Nifty Index closed for the second consecutive trading session above 11350, today the Index should move above 11510  and sustain this level then, the Index may re-test 11585-11660-11735-11800 levels in the near term. At the same time, the weakness now lies only below 11350, further down move below 11350 and close below 11350 for three consecutive trading sesssions then, the Index may re-test 11250-11185-11111 levels very soon. 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 today near 11500 and must close above 11450. The recent SEBI Cirucular on Midcap Fund regulation to invest in equity and equity related instruments to the minimum level 75% from the existing limit of 65%, may help the stock market to see some positive momentum, if the DIIs increase their equity asset by another 10%.

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

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.