09.11.2020 Monday, 8.33 am 

Good Morning followers & readers

What has happened on Friday? Nifty Index, as expected opened on a positive note with a gap up at 12156.65, our expected opening band i.e., 12130-12160, on opening move the Index made a low at 12131.85 thereafter, the strong pull back lifted the Index near our further intra resistance levels i.e., 12295, made a day high at 12280.40 and closed at 12265.55 with positive bias.

What will happen today? Nifty Index may open on positive note to test 12320-12360, if open, trade and sustain above 12360 then, the Index may test 12395-12430-12485-12515 levels. On the other hand, the immediate support lies at 12260-12230 if, trade and sustain below 12230 then, the Index may try to test 12195-12130-12090-12025-11960 levels.

US Presidential Election Update: The US Presidential Election counting of voting finally got over and the final results were declared the Democratic candidate Mr Joe Biden, elected as the President, he won by 290 votes, whereas the rival, Republican party candidate Mr Donald Trump lost and secured only 214 votes.

Special Mention: On Friday, the Nifty Index witnessed a huge up move till our threshold levels i.e, 12295 and made a high 12280.40, finally settled above 12263.55. Today the Nifty Index must break 12320-12360 levels, to test the all time high level i.,e 12430.50 levels. At the same time, it should not trade below 12260-12200 levels, any weakness below 12200 then the Nifty Index may re-visit 12130-12025 levels very soon, let us see how it opens today near 12320-12360 levels. The technical sell-off possible either today or by this week till 12125-12025 levels, trade with caution and avoid aggressive long positions in F&O segment. 

Trading Strategy: The followers/readers, those who invested last week at 11600-11550 levels, book profit, if the stocks are gives 10-15% return, since 12360-12430 levels are the resistance zone for the Nifty Index and wait for the dips to re-invest at 11900-11750 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.