24.09.2020 Thursday, 8.33 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, contrary to our expectation opened on a gap up flat note at 11258.75, which was our resistance band i.e, 11250-11275, it made a day high also near open at 11259.55 thereafter, the intra sell-off dragged the Index throughout the day beyod our support level i.e., 11060, made low at 11024.40, taken a good support at this level and last hour short covereing lifted the Index till 11150 with a volatile and closed the day at 11131.85 on a flat to negative note.

What will happen today? Nifty Index may open on a negative note, may be with gap down by tracking the global indices to test 11085-11050-11025, if open, trade and sustain below 11025 then, the Index may test 10995-10960-10910-10880-10830 levels. On the other hand, the immediate resistance seen at 11150-11185 if, trade and sustain above 11185 then, the Index may try to re-test 11250-11300-11345-11385-11450 levels.

Special Mention: Yesterday, the Nifty Index tried to surpass above 11285, though it opened with a gap up at 11256 but unable to sustain, move up above this levels and dragged down near our next important threshold support levels i.e, 11060-10995 and closed well below 11285, being the second trading session, we should see how it trades and closes today, already the Index tested 11060 and almost reached near 11k mark, if the Index breaks 11024 and 10995 today, then it may test 10885 levels soon. At the same time, if the Index moves and closes above 11185-11210, for three consecutive trading sessions, then it may re-test 11320-11450-11580 levels in the near term. Let see, how it opens and trade near 11050-11025-10995 levels. To-day's F&O expiry and tomorrow's week-end factor, the Index may trade with high volatility and avoid agressive long positions. The large cap stocks are under selling pressure due to the recent SEBI circular on multicap asset allocation, the global sell-off, premium price valuation (PE) and Q1 India Inc., dismal performance were ignited the trigger for this sell-off, it looks the Index may take support at 10995-10885 for time being.

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 11000-10800 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.