10.11.2020 Tuesday, 8.44 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected opened on a positive note at 12399.40, our expected opening band i.e., 12320-12360, thereafter, the strong rally lifted the Index near our further intra resistance levels i.e., 12430, made a high at 12450, further the mild sell-off dragged the Index till 12367.35, the last hour rally once again took the Index till 12474.05 and closed at 12461.05 with positive bias.

What will happen today? Nifty Index may open on positive note with gap up by tracking the global indices to test 12580-12600-12640, if open, trade and sustain above 12640 then, the Index may test 12680-12725-12765-12850 levels. On the other hand, the immediate support lies at 12515-12475 if, trade and sustain below 12475 then, the Index may try to test 12430-12370-12340-12310-12280 levels.

Special Mention: Yesterday, the Nifty Index continued it's upward momentum till 12474, on opening move itself; it just like that crossed the previous all time high point i.e.,12430.50 and closed well above this level, shows that the doors are open till 13770, if the Index sustain today above 12600 then, the Index may test 12765-12930-13100 levels. Yesterday, late evening the news about Covid19 vaccine, started to pour in, the US based Pfizer clamied that they, tested successfully the vaccine with 90% success rate, this news lifted the all the Europe and US stock markets around 3-5%, this effect will impact the Asian markets, already the Asian indices are trading 1-2% higher, hence the Nifty also may open with 1-2% higher. The weakness now only at 12430, any weakness, if the Index closes below 12430 for three consecutive trading sessions then, it may re-test 12025-11930 levels, trade with caution at the higher levels 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 15-25% return, since 12600-12770 levels are the resistance zone for the Nifty Index and wait for the dips to re-invest at 12000-11900 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.