14.11.2020 Saturday, 5.50 pm - Diwali Muhurat Trading Session 6.15 pm - 7.15 pm

Good Evening followers & readers

BISTA Wishing you and your near & dear a Happy Diwali 

What has happened on yesterday? Nifty Index, as expected opened on a negative note at 12659.70, our expected opening band i.e., 12670-12620, on opening move it made a day low at 12607.70 thereafter, it moved up till our resistance level i.e, 12740, made a day high at 12735.95, further the intra volatility dragged once again till 12650 and closed at 12719.95 with positive bias.

What will happen today? Nifty Index may open on a positive note to test 12770-12795 if open, trade and sustain below 12795 then, the Index may test 12825-12850-12895 levels. On the other hand, the immediate support lies at 12740-12685 if, trade and sustain below 12685 then, the Index may try to test 12660-12625-12607 levels.

Special Mention: Yesterday, the Nifty Index though it broken the 12620 level but, unable to move below 12600, made a low 12607.70, the strong pull back lifted the Index once again till 12735, also not able to move above 12770 levels, as expected the Index traded in a broad range consolidation move for the last two trading sessions, let see today how it opens, I expect positive opening due to Diwali Muhurat special trading session, near 12770, if sustain above, then it may test 12825-12850 levels are possible and it may trade in range bound move between 12850-12750-12685 levels, the Index may take further direction on 17th Nov-Tueday.

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

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Wishing you for a safe, secured and profitable trading.