17.09.2020 Thursday, 8.40 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written, opened on a flat note at our expected level at 11487.20, our expected opening band 11535-11568 and made a day low at 11516.75 further, it was moved up exactly till our resistance level i.e, 11568, thereafter, a mild intra-sell off dragged near day low, the late hour pull back rally once again lifted the Index till our further resistance level i.e., 11615, made a day high at 11618.10 and closed at 11604.85 on positive bias. 

What will happen today? Nifty Index may open on a flat note to test 11618-11640, if open, trade and sustain above 11640 then, the Index may re-test 11665-11695-11730-11760-11795 levels. On the other hand, the immediate support lies at 11590-11565 if, trade and sustain below 11565 then, the Index may try to re-test 11530-11490-11442-11420-11385-11365-11330-11298 levels.

Special Mention: Yesterday, as written the Nifty Index able to surpass, sustained and closed above 11568, this is the first trading session to close above this level, watch today it must move above 11618-11665 and close above 11568 today and tomorrow, then the Index will re-test the recent high made at 11794.25 on 31st Aug, further rally above 11795, will take the Nifty Index to 11870-11960-12150 levels before Diwali. At the same time, the weakness now lies only below 11450-11385, further down move and closes below 11385 level for three consecutive trading sesssions then, the Index may re-test 11250-11185-11111 levels in the near term. 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 or any move below 11385, then the Index may test 11250-11185-11111 levels in the near term. Let, see how it opens at 11600 and trade, the option weekly expiry volatility may rise, please be cautious at the high levels.

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.