14.10.2020 Wednesday, 8.39 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written opened on positive note at 11934.65, our expected opening band i.e, 11940-11970, on opening move, it made a low at 11891.80 thereafter, the Index moved up till our threshold resistance level i.e, 11970, made day high at 11988.20, further the Index moved down with highly volatile move, made a day low at 11888.90 and closed the day at 11934.50 on a flat note with positive bias.

What will happen today? Nifty Index may open on a flat to negative bias to test 11905-11860, if open, trade and sustain below 11860 then, the Index may re-visit 11845-11820-11795-11760-11730-11695-11630-11550 levels. On the other hand, the immediate resistance seen at 11940-11970 if, trade and sustain above 11970 then, the Index may try to test 12015-12040-12070-12110-12150 levels.

Special Mention: Yesterday, the Nifty Index not able to continue the uptrend move, unbale to break the previous day high i.e., 12022.05 and the same time the weakness dragged the Index near threshold support level ie., 11870, but not broken the previous day low i.e, 11867.20, this inside pattern (not breaking the previous day high or low) infers the indecisiveness, to move either by breaking the day high or day low of the previous trading session. Today, is the trend deciding day, the further trend may emerge, if the Index break below 11867, it may re-visit till 11795-11620 very soon, at the same time if the Index once again move above 12k mark and break 12022.05, then it may rally till 12070-12150-12240 levels in the near term. The non-stop move from the recent lowest point i.e, 10790.20, made on 24th Sep, almost the Index moved up without any meaningful correction for the last 12 trading sessions and closes with positive bias for the last 9 trading sessions and breaking the previous day's high i.e, higher-high, except yesterday and not broken the previous day low i.e, lower-low, shows the trend should emerge either by today. Let see, how it opens and trade at 11905-11860 levels, The option weekly expiry falls tomorrow, the IT major Infosys declaring the Q2 results today, hence the volatility may be in rising mode till this week-end, trade with caution at the higher levels i,e., near 11970-12000 levels.  

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 11970-12010 levels for the time being. Any price correction comes till 11600-11300 then, adopt buy on dips strategy and start re-invest in Nifty50 stocks.

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.