02.11.2020 Monday, 8.42 am 

Good Morning followers & readers

What has happened on Friday? Nifty Index, as expected opened on flat note at 11678.45, our expected opening band i.e., 11660-11600, on opening move the Index made a low at 11645 thereafter, the mild pull back lifted the Index till our intra resistance level i.e., 11745, made a day high at 11748.95, further the strong sell-off dragged the Index beyond 11620, made a day low 11535.45 and closed the day at 11642.40 with negative bias.

What will happen today? Nifty Index may open on a positive note with gap up to test 11660-11685-11720, if open, trade and sustain above 11720 then, the Index may test 11750-11780-11815-11860-11905-11930-11975 levels. On the other hand, the immediate support lies at 11620-11585-11560 if, trade and sustain below 11560 then, the Index may try to test 11535-11475-11450-11410-11380-11335-11305 levels.

Special Mention: On Friday, though the Nifty Index broken the threshold support levels 11555, as i said, the last hope for bulls lies at 11555, it just moved below this level once, made a low at 11535, managed to move up above 11555, finally ended the week at 11640, well above the threshold support levels i.e, 11555-11620, the readers/followers, keep in your mind one thing that, we must  track the levels always on the closing basis, any intraday violation of certain important levels, we should not take it for the count, must see how it closes at the threshold levels. Today, the Nifty Index must hold 11620-11555-11535, it should not violate the Friday's day low i.e, 11535, if to do so, then it may test 11450-11300 very soon. At the same time, it must move above 11660-11685-11720 levels, then it may re-test 11750-11850-11975 in the near term, it looks the volatility may be on the rising mode this week with broad range swing movement between 11950-11550, let us see how it opens today near 11660-11685 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%, 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

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Wishing you for a safe, secured and profitable trading.