22.09.21-Wednesday, 8.43 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on a flat note at 17450, our expected opening band i.e.,17400-17430, on opening move, the Index dragged down and made a day low 17326.10 thereafter, the pull back move lifted the Index, made a day high 17578.55 and closed at 17562 on a positive note with an intra gain 165.10 points i.e., 0.95%.

What will happen today? Nifty Index may open on a flat note near 17540-17560-17580 if open, trade and sustain above 17580 then, the Index may try to re-test 17605-17625-17650-17695-17715-17740-17792 levels. On the other hand, the immediate support lies at 17505-17490 if, the Index moves below 17490 then, it may try to re-visit 17460-17425-17385-17355-17325-17285-17255 levels.

Special Mention: Yesterday, though the Nifty index continued the southward journey, made a day low 17326.10 and took support near 17325, the pull back rally lifted the Nifty index till 17578.35 and closed well above 17535 today, the pull back rally may continue if, the Index moves above 17580-17620 then, it may re-test the all time high 17792 then, it may reach till 18020 in the near term. On the other hand if, the Index moves below 17435 then, the  Index once again re-visit 17326 levels, further weakness below 17325-17260 levels, may darg the Index till 17055-16700 levels very soon. Let see, how the Index opens today at 17540-17560-17580 levels, the intraday volatility may be in high note due to today's US FED meet and tomorrow's weekly option expiry, trade with due caution is my advise in this juncture and avoid aggressive short position. 

Trading Strategy: The followers/readers, those who booked the profit near 17750-17800 levels, try to re-invest partially near 17500-17250 levels with a short term perspective in Nifty50 stocks to gain 5-10%.

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