05.10.2020 Monday, 8.42 am 

Good Morning followers & readers

What has happened on Thursday? Nifty Index, as expected and written opened on positive note at 11364.45, which was our expected opening band i.e, 11305-11335-11375, it made a day low at 11347.05 thereafter, the Index rallied till our resistance level i.e, 11410-11440, made a day high at 11428.60 and closed the day at 11416.95 on a positive bias.

What will happen today? Nifty Index may open on flat note, may be with a positive bias to test 11420-11440-11480, if open, trade and sustain above 11480 then, the Index may re-test 11530-11570-11620-11680-11735 levels. On the other hand, the immediate support lies at 11384-11350 if, trade and sustain below 11350 then, the Index may try to re-visit 11325-11305-11250-11180-11155-11110 levels.

Special Mention: On Thursday, the Nifty Index moved as expected near our threshold level i.e., 11440, but not broken this level, further it moved till 11428.60 and closed well above 11375-11400 levels, today I hope the Index may open, trade and sustain above 11400, then it may test 11530-11620-11680-11735-11795 levels very soon. At the same time, if fails to move above 11440-11480, any weakness below 11375, then the Index may re-test 11350-11300-11250-11180-11015 levels in the near term. Let see, how it opens and trade at 11440-11480 levels. The Supreme court final verdict is expected today, on the moratorium period Interest on Interest levied by the Banking Institutions on the borrowers, it may impact the Banking stocks, especially the NBFC and Hosuing Finance stocks, since no clarity on the Union Govt reply to the Supreme Court about bearing the loss on the Interest on Interest waiver, whether they absorb the loss on all the Institutions including NBFC, Housing and Banking institutions or only on the Banking Institutions alone, the final verdict only will clear all our doubts.   

Trading Strategy: The followers/readers, who invested last week at 10800 levels in Nifty with medium term perspective, try to book profit 10-15% return, since  the Nifty may face hurlde to surpass 11400-11600 levels for the time being.

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.