12.11.2020 Thursday, 8.39 am 

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected opened on a positive note at 12680.60, our expected opening band i.e., 12640-12685, thereafter, it moved till our resistance level i.e, 12765, made a day high at 12769.75, further the intra sell-off dragged till our support band i.e., 12615-12580, made a day low 12571.10, once again the strong rally lifted the Index till day high  and closed at 12749.15 with positive bias.

What will happen today? Nifty Index may open on flat note to test 12750-12770, if open, trade and sustain above 12770 then, the Index may test 12820-12850-12890-12930 levels. On the other hand, the immediate support lies at 12720-12670 if, trade and sustain below 12670 then, the Index may try to test 12620-12570-12520-12520-12475-12430 levels.

Special Mention: Yesterday also, the Nifty Index continued it's upward momentum till 12769.75 and closed well above 12430 for third consecutive trading sessions, shows that the doors are open till 13770 in the near term, if the Index closes above 12430 on weekly basis. Today, the Index should surapss and sustain above 12770 levels, if it moves above 12770, then next resistance seen at 12850-13100-13270-13435-13670 levels. At the same time, the weakness now only at 12570-12475-12430 levels, any down move below 12430 and closes below this levels for three consecutive trading sessions then, it may re-test 12025-11930 levels. The technical sell-off is long due now, at any time the Index may see some correction till 12475-12430 levels, trade with caution at the higher levels and avoid aggressive long positions in F&O segment. The high volatility already ruling the Index since Monday, today being an option weekly expiry and tomorrow's week-end factor may add further more volatility in the Nifty Index.

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 12770-12950 levels are the resistance zone for the Nifty Index and wait for the dips to re-invest at 12400-12000 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.