15.09.2020 Tuesday, 8.40 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written, opened on a positive note beyond our expected level at 11540.15, our expected opening band 11478-11495-11510 and made a day high at 11568.90 thereafter, it was conslidating in a narrow range till noon session, further the weakness-cum-sell-off dragged the Index till our support level near 11370, made a day low 11383.55 and closed at 11440.05 on negative note bias. 

What will happen today? Nifty Index may open on a flat to positive bias to test 11450-11479, if open, trade and sustain above 11479 then, the Index may re-test 11515-11535-11568-11585-11615-11640-11665-11686 levels. On the other hand, the immediate support lies at 11410-11380 if, trade and sustain below 11380 then, the Index may try to re-test 11360-11335-11300-11250-11185 levels.

Special Mention: Yesterday, as written the Nifty Index closed for the third consecutive trading session above 11350, though it closed above 11350, it moved near our first level resistance i.e., 11585-11600 and unable to sustain this level, the sell-off dragged till 11383 and unable to close above 11450. Today, the Nifty Index must sustain above 11400-11350 levels, if consolidate at this level then, the Index may re-test once again 11585-11660-11735-11800 levels in the near term. At the same time, the weakness now lies only below 11350, further down move and closes below 11350 level 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 11450-11400 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%, making the stock market to see some mixed move, since the large cap stocks are  under selling pressure due to the asset allocation is happening to balance the large cap asset, midcap and small cap stocks are shining.

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. And re-invest in some good mid-cap stocks for medium term prespective like Voltas, LIC Housing etc.

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.