24.11.2020 Tuesday, 8.33 am

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written opened on flat to positive note at 12960.30, our expected support band i.e., 12890-12935, on opening move it made a high at 12960.30 thereafter, it moved down till our support level i.e, 12840-12795, made a day low at 12825.70, further the strong upmove lifted the Index till 12968.85 and closed at 12926.45 with positive note.

What will happen today? Nifty Index may open on a positive note to test 12965-13025 if open, trade and sustain above 13025 then, the Index may test 13065-13100-13140-13180 levels. On the other hand, the immediate support lies at 12910-12880 if, trade and sustain below 12880 then, the Index may try to re-visit 12850-12825-12780-12730-12660 levels.

Special Mention: Yesterday, the Nifty Index made an another attempt to surapss the threshold levels i.e, 12935-12963, made a new all time high at 12968.85 and closed near 12935 levels, today it seems, the Index may try to test 13k mark, if the Nifty Index trade and sustain above 13000-13025 levels, then it may test 13310-13770 levels very soon, at the same time the support lies 12910-12850 levels, any weakness below 12850 then, the index may re-test 12770-12660-12610 levels in the near term. Let see, how it opens today at 12965-13000 levels, the F&O expiry and month-end factor may rise the intraday volatility this week, already the India Vix is trading in the positive territory. 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 12935-13100-13300 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

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Wishing you for a safe, secured and profitable trading.