04.11.2020 Wednesday, 8.50 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected opened on a positive note with a gap up at 11734.45, our expected opening band i.e., 11725-11750, on opening move the Index made a day low at 11723.30 thereafter, the strong pull back lifted the Index till our intra resistance levels i.e., 11815-11845, made a day high at 11836.20 and closed the day at 11813.50 with positive bias.

What will happen today? Nifty Index may open on a flat note to test 11820-11775-11750, if open, trade and sustain below 11750 then, the Index may test 11725-11685-11650-11620-11570-11535-11490-11455-11405 levels. On the other hand, the immediate resistance seen at 11835-11885 if, trade and sustain above 11885 then, the Index may try to test 11930-11975-12025 levels.

US Presidential Election Update: Yesterday the US Presidential Election was held and some part of the states the voting is still happening, the counting also started, as of now i.e., 08.46 am, the Democratic Party candidate Mr.Joe Biden, is leading with 131 votes, whereas the rival candidate, the present US President Mr.Donal Trump, is secured 98 votes, to win 270 votes are required. Let see, who wiill win finally, the neck-to-neck close contest is seen. 

Special Mention: Yesterday, the Nifty Index as expected reached near our resistance level i.e, 11850, made a high at 11836 and closed above 11800. Today, the Nifty Index must break 11850-11885, it should sustain above these levels, to continue the upward rally till 11950-11975-12025 levels by this week. At the same time, it should not trade below 11750-11700 levels, any weakness below 11700, then the Nifty Index may re-visit 11660-11620-11555-11535 very soon, further weakness below 11535, the Index may test 11450-11300 levels 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 11820-11775-11750 levels, trade with caution and avoid aggressive long or short 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. Those who invested last week at 11600-11550 levels, start profit booking partially, if the stocks are gives 5-10% return.

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.