28.09.2020 Monday, 8.40 am 

Good Morning followers & readers

What has happened on Friday? Nifty Index, as expected and written opened with positive note at 10910.60, which was our expected opening band i.e, 10885-10915, it made a day low at 10854.85 thereafter, the strong intra pull back lifted the Index throughout the day till our further resistance level i.e, 11085, made high at 11072.60 with a volatile move and closed the day at 11050.25 on a positive note.

What will happen today? Nifty Index may open on a flat to positive note by tracking the global indices to test 11070-11085-11115, if open, trade and sustain above 11115 then, the Index may re-test 11130-11160-11185-11205-11260-11300-11375 levels. On the other hand, the immediate support seen at 11030-11015-10990 if, trade and sustain below 10990 then, the Index may try to re-test 10940-11910-10885-10860-10825-10790-10760 levels.

Special Mention: On Friday, the Nifty index took a strong support at 10855 levels, as written the short covering cum value buy at the low level across the Nifty50 stocks, lifted the Index till 11072 and closed at the day high level, today, it must surpass, sustain above 11085-11115-11185 and close above 11185 for three consecutive trading session, then the Index may try to re-test 11260-11300-11410-11500 levels in the near term. At the same time, if fails to close above 11120-11185 today, then the weakness cum sell-off may drag the Index once again to re-test 10995-10885-10790 very soon, below 10790, the long term trend line support i.e, 200 DMA may act as a strong support at 10760. Let see, how it opens and trade near 11070-11115 levels. 

Trading Strategy: The followers/readers, who invested last week at 10800 levels in Nifty with medium term perspective, try to start partial profit booking 5-10% return, since 11100-11300 levels, the Nifty may face hurlde to surpass.

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.