20.11.2020 Friday, 8.36 am

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written opened on negative note at 12839.50, our expected opening band i.e., 12895-12850, on opening move it made a low at 12836.15 thereafter, it moved up above till our resistance level i.e, 12950, made a day high at 12963, further the profit booking cum sell-off dragged once again till our threshold support levels i.e, 12770-12745, made a day low exactly at 12745.75 and closed at 12771.70 with negative note.

What will happen today? Nifty Index may open on a flat note to take a support at 12770-12745 if open, trade and sustain above 12770 then, the Index may re-test 12840-12870-12920-12935-12963-12995-13020 levels. On the other hand, the immediate support lies at 12745-12735-12715 if, trade and sustain below 12715 then, the Index may try to re-visit 12690-12650-12610-12570-12545 levels.

Special Mention: Yesterday also, the Nifty Index made an another attempt for the record high, made a high 12963, but failed to sustain above 12935, as written yesterday about the mild correction, as expected the Index corrected till our threshold levels i.e.,12770-12745 and able to close above 12770. Today, the Nifty Index must take support at 12770-12745 levels, if sustain below 12735, then it may re-visit 12600-12550 levels very soon, at the same time the resistance seen at 12850-12870 levels, any strong up move above 12870 then, the index may re-test 12935-12963 levels, further move above 12963 then, the Index may test 13000-13100 levels in the near term. The weekly close above 12780-12850 is a must, then only the bull run is intact for the coming week. Today's week-end factor plays a role, it may rise the volatility, 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 12700-12400 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.