18.09.2020 Friday, 8.36 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, contrary to our expectation, opened on a negative note with gap down at 11539.40, our supoort level i.e, 11530 and made a day high at 11587.20, which was our support band i.e., 11590-11560 thereafter, a mild intra-sell off dragged down and made a day low at 11498.50 and closed at 11516.10 on a negative note.

What will happen today? Nifty Index may open on a flat note to test 11526-11565, if open, trade and sustain above 11565 then, the Index may re-test 11590-11620-11665-11730 levels. On the other hand, the immediate support lies at 11500-11475 if, trade and sustain below 11475 then, the Index may try to re-test 11450-11400-11385-11350-11285 levels.

Special Mention: Yesterday, the Nifty Index unable to surpass above 11618 and not closed above 11568, since the global weakness dragged most of the global indices due to US FED hawkish stand on the global economy during the recent FED policy meet, jitters the global indices, hence the Indian stock market also saw some selling pressure, today the Nifty Index must hold above 11500-11465 else, any down move below 11465 with weakness-cum-sell-off, may drag the Index till 11385-11300-11185 in the near term. At the same time, further up move is possible only above 11520-11585 if, the Index able to move above this levels, then the next resistance seen at 11620-11660-11685 levels. I am once again insisting my view, 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 11530 and trade, the week-end falls today, the volatility may rise and avoid agressive long positions. The large cap stocks under selling pressure due to the recent SEBI circular on mid cap asset classification.

Trading Strategy: The followers/readers, try low PE mid-cap and selective Nifty50 stocks with medium term perspective, when the Nifty once again trading near 11400-11200 levels for 10-20% return.

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.

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.