25.11.2020 Wednesday, 8.36 am

Good Morning followers & readers

What has happened on yesterday? Nifty Index, as expected and written opened on a positive note at 13002.60, our expected openining band i.e., 12965-13025, on opening move it made a low at 12978 thereafter, it moved up throuhgout the day till our resistance level i.e, 13065-13100, made a day high at 13079.10 and closed at 13055.15 with positive note.

What will happen today? Nifty Index may open on a positive note with gap up by tracking the global indices to test 13100-13140 if open, trade and sustain above 13140 then, the Index may test 13180-13220-13265-13310 levels. On the other hand, the immediate support lies at 13040-12975 if, trade and sustain below 12975 then, the Index may try to re-visit 12935-12885-12850-12825 levels.

Special Mention: Yesterday, the Nifty Index made an another attempt to surapss the threshold levels i.e, 13065-13100, made a new all time high at 13079.10 and closed well above 13025 levels. The positive global sentiment helps the global indices to trade in green, the US Dow Jones (DJA) for the first time crossed 30k mark, the main drivers of that exuberance were increasing confidence a COVID-19 vaccine would be ready soon, almost every day the positive news are flowing in to the market and the formal start of U.S. president-elect Joe Biden's transition to the White House, which ends weeks of post-election political uncertainty and reports that Biden planned to nominate former Federal Reserve Chair Janet Yellen as Treasury Secretary, a move that could shift the focus heavily toward efforts to tackle growing economic inequality, also cheered the US stock market, as well across the global stock market too, hence all the asian stock market indices are trading with positive bias. Today it seems, the Index may open with gap up to test 13140-13180 levels, if the Nifty Index trade and sustain above 13140-13180 levels, then it may test 13310-13770 levels very soon, at the same time the support lies 13040-12975 levels, any weakness below 12975 then, the index may re-test 12770-12660-12610 levels in the near term. Let see, how it opens today at 13100-13140 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 at 11600-11550 levels, book profit, if the stocks are gives 15-25% return, since 13100-13310 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.