16.09.2020 Wednesday, 8.43 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 11487.20, our expected opening band 11450-11479 and made a high at 11508 thereafter, it was conslidating with downward bias and moved down till our support level i.e, 11450, made a day low at 11442.25, further the late hour upmove lifted the Index once again, exactly till our further resistance level i.e., 11535, made a day high at 11535.95 and closed at 11521.80 on positive bias. 

What will happen today? Nifty Index may open on a flat note to test 11510-11485, if open, trade and sustain below 11485 then, the Index may re-test 11465-11450-11420-11385-11330-11298-11250-11185 levels. On the other hand, the immediate resistance seen at 11535-11568 if, trade and sustain above 11568 then, the Index may try to re-test 11585-11615-11640-11660-11695-11735 levels.

Special Mention: Yesterday, as written the Nifty Index sustained and closed above 11450, today it must break 11535-11568, if able to surpass and close above 11568 for three consecutive trading sessions then, the  Index may re-test 11685-11735-11800 once again, very soon. At the same time, the weakness now lies only below 11450, further down move and closes below 11450 level for three consecutive trading sesssions then, the Index may re-test 11250-11185-11111 levels very soon. Now, the Nifty Index trading range will be around 11685-11385, any break out on either side will give a new directional shift to the next levels i.e., if breaks above 11685, then it may test 11795-11870 in the near term or any move below 11385, then the Index may test 11250-11185-11111 levels in the near term. Let, see how it opens at 11500 and trade, the option weekly expiry falls tomorrow, hence the volatility may rise, please be cautious.

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 11500-11685 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.