18.11.2020 Wednesday, 8.33 am

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected opened on a positive note at 12932.50, our expected opening band i.e., 12850-12895, on opening move it made a day high at 12934.05 thereafter, it moved down till our support band i.e, 12830-12750, made a day low at 12797.10 and closed at 12874.20 with positive bias.

What will happen today? Nifty Index may open on a flat to positive note to test 12885-12935 if open, trade and sustain above 12935 then, the Index may test 12970-13000-13030-13100 levels. On the other hand, the immediate support lies at 12835-12795 if, trade and sustain below 12795 then, the Index may try to test 12770-12745-12700-12660-12610 levels.

Special Mention: Yesterday also, the Nifty Index made an another attempt for the record high, tested our threshold level 12935, but it was unable to sustain that level, the mild sell-off dragged till 12797, at the same time, the Index able to close above 12770 for the second straight trading session, if the Index closes above 12770 today with weekly close, as i have written, the doors are open for the target of 13770 in the near term. Today, the Nifty Index may try to re-test 12935 levels, if sustain above 12935, then 13000-13100-13425-13770 are the levels to watchout, at the same time the good support lies at 12795-12770 levels, any weakness below 12770, the index may test 12660-12610-12570 levels in the near term. The Option weekly expiry falls tomorrow, the India Vix also closed on the positive note hence, the volatility may rule the market till this week-end, trade with caution is my advise at this juncture.

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 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.