21.10.2020 Wednesday, 8.39 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, contrary to our expecation opened on negative note at 11861, our expected opening band i.e, 11875-11905 on opening move, it made a day low at 11837, thereafter, the Index moved up througout the day and tested our resistance level i.e, 11945, made a high 11949.25, a breif intra sell-off dragged the Index till 11885 and closed the day at 11896.80 with positive bias.

What will happen today? Nifty Index may open on a positive note by tracking the global indices to test 11920-11950, if open, trade and sustain above 11950 then, the Index may re-visit 11980-12025-12075-12125 levels. On the other hand, the immediate support lies at 11885-11860 if, trade and sustain below 11860 then, the Index may try to test 11820-11795-11750-11730-11690-11660 levels.

Special Mention: Yesterday, the Nifty Index, as expected moved beyond 11905-11920, for the second trading session it has closed above our threshold level i.e, 11820, as stated on Monday, if the Index closes above 11795-11820 for three consecutive trading sessions then, the Index may re-visit 12k mark, yesterday almost the Index reached 11949, today the Index must surpass and sustain above 11920-11950 to move further, till 12000-12025-12075-12125 levels, else any weakness below 11860-11820, then the Index may re-test 11720-11661, below 11661, the Index may test 11550-11480-11400-11305 levels in the near term, let us see how it open and sustain, today near 11920-11950 levels, the option weekly expiry falls tomorrow and Friday week-end factor may rise the volatility, already India Vix is trading at the higher levels, trade with caution is my sincere advise. 

Trading Strategy: The followers/readers, as expected the Nifty Index moved almost near 11600, those who invested, start booking the profit partially for 5-10%, the Nifty Index must move above 12k mark and should close for three consecutive trading sessions, then only it will test 12125-12250 levels in the near term. 

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

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Wishing you for a safe, secured and profitable trading.