27.10.2020 Tuesday, 8.40 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected opened on flat note at 11937.40, our expected opening band i.e, 11935-11910 on opening move, it made a day high at 11942.85 thereafter, the Index witnessed the sell-off throughout the day till  our final intra support levels i.e, 11705, made a day low at 11711.70 and closed the day at 11767.75 with negative note.

What will happen today? Nifty Index may open on positive note to test 11780-11800-11825, if open, trade and sustain above 11825 then, the Index may re-visit 11845-11865-11890-11930-11945-11975-12000-12025 levels. On the other hand, the immediate support lies at 11745-11710 if, trade and sustain below 11710 then, the Index may try to test 11660-11620-11555-11505 levels.

Special Mention: Yesterday, the Nifty Index, unable to surpass 11975-12025, the strong weakness cum sell-off dragged the Index till 11711.70, the global weakness, especially in USA, the President election fever, created the unrest in the US stock market, this may impact other global stock market too, it was evident from the FIIs activity; yesterday, after a long time FIIs sold in the Indian equity market on the net basis, to the tune of Rs.119.42 crores, we should wait and watch; how they behave further. Today the Nifty Index must trade, sustain and close above 11830-11850 levels, so that it may try to test 11900-11950-11975 levels in the near term, else any weakness below 11775-11710 levels, may drag the Index till 11660-11620 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 11820-11850 levels. This week, we have F&O expiry and month-end also falls, this will rise the intraday volatility in the Nifty Index, already the India Vix trading at the elevated levels, trade with caution and avoid aggressive long positions in F&O segment, this is my advise at this juncture.

Trading Strategy: The followers/readers, try to invest once again in the selective Nifty50 stocks for a short term gain of 5-10%, when the Nifty Index moves to 11660-11600 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

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Wishing you for a safe, secured and profitable trading.