21.09.2020 Monday, 8.36 am 

Good Morning followers & readers

What has happened on Friday? Nifty Index, as written and expected, opened on a flat to positive note at 11584.10, beyond our resistance band i.e, 11526-11565 and made a open and high at 11584.10, which was our further resistance i.e., 11590 thereafter, it was consolidating with down ward bias and late hour sell-off dragged down till our support level i.e, 11450, made a day low at 11446.10 and closed at 11504.95 on a negative note.

What will happen today? Nifty Index may open on a negative note by tracking the global indices to test 11475-11446, if open, trade and sustain below 11446 then, the Index may test 11405-11380-11350-11318-11285 levels. On the other hand, the immediate resistance seen at 11495-11516 if, trade and sustain above 11516 then, the Index may try to re-test 11545-11585-11620-11665-11735 levels.

Special Mention: On Friday, the Nifty Index unable to surpass above 11585, but able hold and closes above 11500, to-day the Index must sustain and hold 11450-11385 levels and close above 11500-11520, then only the Index will try to re-test 11600-11735-11795 in the near term. Else, the Index if moves below 11450-11385 and closes below 11450 for three consecutive trading sessions then, it may test 11295-11250-11185-11111 levels very soon. I am once again reiterating my view that, the Nifty Index trading range will be around 11685-11385 for the time being, 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 11475-11450 and trade, the F&O expiry falls this week, 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, 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.