14.09.21-Tuesday, 8.43 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on a flat to positive note at 17363.55, our expected opening band i.e.,17370-17350, on opening move, it made a low 17269.15 thereafter, the Index moved up, made a day high 17378.35 and closed at 17369.25 on a negative note with an intra loss  -13.95 points i.e., 0.08%.

What will happen today? Nifty Index may open on a positive note near 17375-17395 if open, trade and sustain above 17335 then, the Index may try to test 17410-17436-17455-17473-17500-17530-17555 levels. On the other hand, the immediate support lies at 17360-17335 if, the Index moves below 17335 then, it may try to re-visit 17300-17270-17245-17225-17210-17175-17155-17140-17095-17056 levels.

Special Mention: Yesterday, the Nifty index unable to cross 17385 and not moved below 17300, made a day low 17269.15, though it violated below 17300 but, once again moved up and closed well above 17360, last 5 trading sessions the Index whenever it moved down, had taken support either near 17300 or 17260 and closed near 17360, though the weakness seen at the higher levels, the meaningful price correction is not happening, this infers that the Index may try to continue the northward journey till 17550-17750 levels very soon. On the other hand, the weakness now lies below 17260-17200, if the index moves below 17200  then, the sell-off may be intensified to drag the Index till 17055-16850-16710 levels in the near term. Let see, how the Index opens today at 17375-17395 levels, avoid aggressive short position and trade with due caution is my advise in this juncture.

Trading Strategy: The followers/readers, those who re-invested near 16365-16500 levels, try to book full profit 17400-17550 levels or if, the stocks gives profit 20-30% and wait for the down move and adopt  buy on dips strategy.

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