NIFTY Analysis for 28 Sep 2020

As discussed last time, “Well anticipated NIFTY opened below low of 23 Sep 2020 and all the downside targets achieved. Next level to watch out below low of 24 Sep (10790) is 10765. Bull need to protect 10755/10765 range to show some resistance to bears & move towards low of 23 Sep 2020 i.e 11025. Bears can push the index further to 10713-10609 once the 10755/10765 range is broken on downside. Next important dates to observe are 29/30 Sep and 06 Oct 2020”

NIFTY opened higher and bulls were able to protect the support zone and did all the upside targets and closed near low of 23 Sep as discussed. Now bull need to move above 11105 to move towards 11157, 11210 & 11263. Bears need to move below 10999 to move towards 10921, 10843 & 10791

More volatility expected as Supreme Court Decision on Interest Waiver will be declared on Monday. Trade with caution.

For 28 Sep 2020

Buy above 11078 for target of 11104, 11131 & 11157
Sell below 11024 for target of 10999, 10973 & 10947

Trade with Discipline & Strict SL

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