05.11.2020 Thursday, 8.43 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected opened on a flat note at 11783.35, our expected opening band i.e., 11820-11175-11720, on opening move the Index made a low at 11783 thereafter, the strong pull back lifted the Index till our intra resistance levels i.e., 11920, made a high at 11920, further the Intra sell-off dragged once again till 11750, the last hour upmove lifted the Index near 11930, made a day high at 11929.65 and closed at 11908.50 with positive bias.

What will happen today? Nifty Index may open on a positive note with gap up by tracking the global indices to test 12025-12070-12100, if open, trade and sustain above 12100 then, the Index may test 12150-12175-12220-12250 levels. On the other hand, the immediate support lies at 11975-11930 if, trade and sustain below 11930 then, the Index may try to test 11885-11850-11800-11770-11700-11660 levels.

US Presidential Election Update: The US Presidential Election almost given the clear trend that, the Democratic Party candidate Mr.Joe Biden, will win, as of now he won 264 votes, just short of 6 votes to capture the Presidential post (to win 270 votes are required) the rival candidate, the present US President Mr.Donal Trump secured 214 votes. The Trump campaign is filing a lawsuit to stop vote counting in Georgia, since some dispute about late coming ballots, tonight we will get the clarity about this lowsuit, whether the US Supreme court will entertain this or not. 

Special Mention: Yesterday, the Nifty Index witnessed a high volatility with broad swung between 11930-11760 levels, finally settled above 11900, as expected it will reach 12k-12070 mark today, i have written that, this week the Index may reach 12025 levels. Today the Nifty Index must sustain above 12070-12100 levels, to test further 12150-12250 levels. At the same time, it should not trade below 11970-11900 levels, any weakness below 11900, then the Nifty Index may re-visit 11850-11750-11660 levels, let us see how it opens today near 12070-12100 levels, trade with caution and avoid aggressive long or short positions in F&O segment, till this week-end, the weekly option expiry also will play a vital role with high volatility.

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, if the stocks are gives 10-15% return, since 12070-12150-12250 levels are the resistance zone for Nifty Index.

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.