17.11.2020 Tuesday, 8.36 am

Good Morning followers & readers

What has happened on Saturday? Nifty Index, as expected opened on a positive note at 12823.25, our expected opening band i.e., 12770-12795, on opening move it made a day high at 12828.70 thereafter, it moved down till our support band i.e, 12740-12685, made a day low at 12749.45 and closed at 12780.25 with positive bias.

What will happen today? Nifty Index may open on a positive note to test 12850-12895 if open, trade and sustain above 12895 then, the Index may test 12935-12980-13000-13030-13100 levels. On the other hand, the immediate support lies at 12830-12750 if, trade and sustain below 12750 then, the Index may try to test 12700-12660-12610-12570 levels.

Special Mention: On Sarurday, the Nifty Index made an another attempt for the record high, tested 12828.70, but it was unable to sustain above 12800, at the same time able to close above 12770 for the first time, if the Index closes above 12770 for two more trading sessions i.e, today & tomorrow, as i have written last week, the doors are open for the target of 13770 in the near term. The USA, another major drug maker Moderna (MRNA) announced upbeat data for its COVID-19 vaccine, building on hopes that an effective inoculation will soon be available, already last week Pfizer announced its own vaccine, which uses similar new messenger RNA technology, had an efficacy rate of more than 90%, this news yesterday lifted the US & Europe stock market, may be this will impact the Asian stock market, especially our Indian stock market too, today, the Nifty Index may open with positive bias to test 12850-12935-13000 levels, if sustain above 13k then 13100-13425-13770 are the levels to watchout very soon, at the same time the good support lies at 12770-12700 levels, any weakness below 12700, the index may test 12660-12610-12570 levels in the near term.

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 12770-12935-13100 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.