13.11.2020 Friday, 8.33 am 

Good Morning followers & readers

BISTA Wishing in advance, you and your near & dear a Happy Diwali 

What has happened on yesterday? Nifty Index, as expected opened on a flat note but with negative bias at 12702.15, our expected down side opening band i.e., 12720-12670, on opening move it made a day high at 12741.15 thereafter, it moved down till our further support level i.e, 12620, made a day low at 12624.85, further the intra short covering with weekly option expiry volatile move lifted the Index till 12700 and closed at 12690.80 with negative bias.

What will happen today? Nifty Index may open on a negative note by tracking the global indices to test 12670-12620 if open, trade and sustain below 12620 then, the Index may test 12595-12570-12520-12470-12430 levels. On the other hand, the immediate resistance seen at 12705-12725 if, trade and sustain above 12725 then, the Index may try to test 12740-12770-12820-12850-12895-12935 levels.

Special Mention: Yesterday, the Nifty Index failed to continued it's upward momentum, the eight straight trading sessions it was  traded with higher high pattern, lost the winning streak and closed with negative bias at 12690.80, further the Index formed a Inside day pattern which shows the indecisiveness, today the Index should surpass the threshold level 12770, to continue the rally till 12850-12935, else the Index may consolidate in a broader range move between 12570-12770 till Diwali muhurat trading, only on 17th Nov-Tuesday, it may take further direction, if not break either these ranges today or tomorrow, on the down side move below 12570, then the weakness may drag the Index till 12470-12430-12300 levels in the near term. 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 a week-end 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 12770-12935 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.