28.10.2020 Wednesday, 8.43 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected opened on positive note at 11807.10, our expected opening band i.e, 11780-11800-11825 on opening move, the mild sell off dragged the Index and made a day low at 11723 thereafter, the pull back lifted the Index throughout the day till  our intra resistance levels i.e., 11890, made a day high at 11899.05 and closed the day at 11889.40 with positive note.

What will happen today? Nifty Index may open on flat to negative note by tracking the global indices to test 11860-11835, if open, trade and sustain below 11835 then, the Index may re-visit 11795-11775-11725-11690-11660-11620 levels. On the other hand, the immediate resistance seen at 11900-11930 if, trade and sustain above 11930 then, the Index may try to test 11945-11975-11995-12025-12075 levels.

Special Mention: Yesterday, the strong pull back from the low i.e, 11730, lifted the Nifty above our threshold level i.e, 11850 and able to close above 11850, we should watch this level to hold and must surpass above 11900 to test 11975-12025, else the weakness may drag the Index once again 11800-11725 levels, further weakness at 11725, trades and closes below this level then, the Index may test 11660-11620 very soon. The global weakness also continues, yesterday the US stock market Dow Jones closed with negative bias for the second consecutive sessions, the Asian market also trading with the weakness, it infers that, till the US Presidential election gets over i.e, 03rd Nov'20, the stock market acoss the world may trade with high volatility. Let us see how our Indian stock market, open and sustain, today near 11860-11835 levels. Tomorrow, we have F&O expiry and month-end also falls on Friday, 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.