30.09.2020 Wednesday, 8.33 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written opened with positive note at 11288.60, which was near our expected opening band i.e, 11240-11275, it made a day high at 11305.40 thereafter, the intra sell-off dragged the Index throughout the day till our support band i.e, 11220-11180, made day low 11181, exactly at our support level i.e., 11180 and closed the day at 11222.40 on a flat to negative note.

What will happen today? Nifty Index may open on flat to positive note by tracking the global indices to test 11280-11305, if open, trade and sustain above 11305 then, the Index may re-test 11340-11375-11410-11440-11500-11535 levels. On the other hand, the immediate support lies at 11205-11180 if, trade and sustain below 11180 then, the Index may try to test 11145-11110-11065-11045-11015-10985 levels.

Special Mention: Yesterday, the Nifty Index moved up above 11260-11300, but unable to sustain above 11300, at the same time the Index able to close above 11185, being the second trading session, though the Index tried to move down below 11185, but made a day low at 11181, strongly rebound from this level which shows, that the Index today once again try to surpass above 11300 levels, if trades above 11300, then it may test 11400-11500 levels very soon. At the same time, if fails to move above 11260-11300, any weakness below 11180-11150, then the Index may re-test 11100-10960-10880-10790 levels in the near term. Let see, how it opens and trade near 11270-11300 levels. Today being a month and quarterly end, tomorrow, the RBI bi-monthly meet is scheduled and weekly option expiry, further the long week-end due to Friday is a trading Holiday on account of Father of Nation Gandhiji jayanthi, all these events, make the Nifty Index to be nervous with high volatility,  please be cautious. Today, the Nifty index will try to close above 11300 or at least above 11200, it is a must one to continue the bullish momentum in October'20. 

Trading Strategy: The followers/readers, who invested last week at 10800 levels in Nifty with medium term perspective, try to start partial profit booking 10-15% return, since  the Nifty may face hurlde to surpass 11300-11500 levels.

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.