16.09.21-Thursday, 8.43 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 17387.65, our expected opening band i.e.,17395-17415, on opening move, it made a day low 17386.90 thereafter, the Index moved up throughout the day, made a day high 17532.70 and closed at 17519.45 on a positive note with an intra gain 139.45 points i.e., 0.80%.

What will happen today? Nifty Index may open on a flat to positive note near 17520-17530-17550 if open, trade and sustain above 17550 then, the Index may try to test 17575-17600-17625-17645-17668 levels. On the other hand, the immediate support lies at 17500-17475 if, the Index moves below 17475 then, it may try to re-visit 17450-17435-17405-17370-17345-17305-17270-17255 levels.

Special Mention: Yesterday, the Nifty index able to move above 17438 and continued the northward journey, made a new all time high 17532.70 and closed well above 17440, today the Index must move above 17532-17555 levels to continue the upward momentum to test 17750-18000 levels in the near term. On the other hand, the weakness now lies 17435-17370, if the index moves below 17370 then, the sell-off may drag the Index till 17250-17055 levels in the near term. Let see, how the Index opens today at 17520-17535-17550 levels, the intraday volatility may be in high note, due to today's weekly option expiry and tomorrow's week-end factor, 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 17550-17750 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

For further details please do call us on 98410 48022 or contact thro' whatsapp: 99624 70636. Please read carefully, the Disclaimer published in the Disclaimer page.

Wishing you for a safe, secured and profitable trading