26.10.2020 Monday, 8.42 am 

Good Morning followers & readers

What has happened on Friday? Nifty Index, as expected opened on positive note at 11957.90, beyond our expected opening band i.e, 11905-11940 on opening move, it made a day high at 11974.55 thereafter, the Index moved down till our support level i.e., 11905, made a day low 11908.75 further, it moved once again near day high and closed the day at 11930.35 with positive note.

What will happen today? Nifty Index may open on a flat note to test 11935-11910, if open, trade and sustain below 11910 then, the Index may re-visit 11890-11845-11820-11790-11775-11745-11705 levels. On the other hand, the immediate resistance seen at 11960-11975 if, trade and sustain above 11975 then, the Index may try to test 11995-12025-12045-12075-12125 levels.

Special Mention: On Friday, the Nifty Index, unable to surpass 12025, at the same time it was not breached our threshold support level also, i.e., 11820-11775, it has taken a support at 11910 and closed at near 11930, today the Index must break either 11975-12025 levels on the higher side to continue the journey further, if the Nifty Index moves, sustain and closes above 12025 for three consecutive trading sessions then, it may test 12075-12125-12190-12250 levels in the near term, else any weakness below 11890--11775 then, the Index may re-test 11660-11620 levels very soon, further weakness below 11620, may drag the Index till 11550-11405-11300 levels in the near term, let us see how it open and sustain, today near 11950-11975 levels. This week, we have F&O expiry and month-end also falls, this will rise the intraday volatility in the Nifty Index, trade with caution is my advise till this week-end. 

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 above 12k mark, 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.