17.09.21-Friday, 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 17539.20, our expected opening band i.e.,17530-17550, on opening move, it made a day low 17510.45 thereafter, the Index moved up throughout the day, made a day high 17644.60 and closed at 17629.50 on a positive note with an intra gain 110.05 points i.e., 0.63%.

What will happen today? Nifty Index may open on a positive note near 17645-17675 if open, trade and sustain above 17675 then, the Index may try to test 17695-17726-17750-17795 levels. On the other hand, the immediate support lies at 17600-17560 if, the Index moves below 17560 then, it may try to re-visit 17530-17510-17475-17435-17405-17385-17365-17300-17255 levels.

Special Mention: Yesterday, the Nifty index continued the northward journey, made a new all time high 17644.60 and closed well above 17535, today the Index must move above 17645-17675 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 17645-17675 levels, the intraday volatility may be in high note, due to today's week-end factor, avoid aggressive short position and long position and trade with due caution is my advise in this juncture. There may be a short term correction in the near term till 17400-17250 possible, whether the correction is from 17750 or near 18k, is the million dollar question.

Trading Strategy: The followers/readers, those who re-invested near 16365-16500 levels, try to book full profit 17750-18000 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