30.10.2020 Friday, 8.39 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected opened on negative note with gap down at 11633.30, our expected opening band i.e., 11680-11660-11620, on opening move the Index made a low at 11609 thereafter, the strong pull back lifted the Index till our intra resistance band i.e., 11710-11755, made a day high at 11744.15, further the F&O expiry volatility dragged the Index near 11600, made a day low 11606.45 and closed the day at 11670.80 with negative bias.

What will happen today? Nifty Index may open on flat to negative note to test 11660-11600, if open, trade and sustain below 11600 then, the Index may test 11570-11510-11480-11445-11405-11350-11305 levels. On the other hand, the immediate resistance seen at 11680-11710-11745 if, trade and sustain above 11745 then, the Index may try to re-test 11780-11795-11835-11860-11895-11930-11975 levels.

Special Mention: Yesterday, the Index took strong support near 11600, it tested twice this level and bounced back, managed to close above the threshold level i.e., 11660, we should watch this level to hold and must surpass above 11710- 11745-11775 to test again 11850-11975, else the last hope for the bulls lies at 11620-11600-11555, any weakness below 11555 and closes below this level, may drag the Index till 11450-11300 levels in the near term. The global equity market is under the bear grip, yesterday the US stock market Dow Jones managed to close on the positive note, the Europe stock market also closed on the flat note, now the Asian market also trading with the flat to negative bias; 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 the Nifty Index open and sustain, today near 11660-11600 levels. The week-end cum month-end factors may add the fuel in to the intraday volatility in the Nifty Index, already the India Vix trading at the elevated level, 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%, with medium term perspective when the Nifty Index trades near 11600-11400 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

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.