15.09.21-Wednesday, 8.43 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 17420.35, our expected opening band i.e.,17375-17395, on opening move, it made a high 17438.55 thereafter, the Index moved down, made a day low 17367.05 and closed at 17380 on a positive note with an intra gain 24.70 points i.e., 0.14%.

What will happen today? Nifty Index may open on a flat to positive note near 17395-17415-17438 if open, trade and sustain above 17438 then, the Index may try to test 17455-17473-17500-17530-17555 levels. On the other hand, the immediate support lies at 17370-17345 if, the Index moves below 17345 then, it may try to re-visit 17325-17300-17270-17245-17225-17205-17175-17155-17140-17095 levels.

Special Mention: Yesterday, the Nifty index able to cross 17436 and made a fresh all time high 17438.55 but unable to move further, it moved down till 17367, the Index traded with a narrow trading range without much of volume at the same time the sell-off is also not happening, today the Index must move and close above 17440-17455, to continue the northward journey to test till 17550-17750 levels in the near term. On the other hand, the weakness now lies 17345-17255, if the index moves below 17255  then, the sell-off may be intensified to drag the Index till 17200-17055-16850-16710 levels in the near term. Let see, how the Index opens today at 17395-17415-17438 levels, the intraday volatility may be in high note from today till week-end, due to tomorrow's weekly option expiry, 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 17450-17550 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