23.09.21-Thursday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on a flat note at 17580.90 our expected opening band i.e.,17540-17580, on opening move, the Index moved down and made a day low 17524 thereafter, the pull back move lifted the Index up and made a day high 17610.45, further the volatile move dragged down near day low and closed at 17546.65 on a negative note with an intra loss -15.35 points i.e., -0.09%.

What will happen today? Nifty Index may open on a positive note with gap up by tracking the Asian Indices near 17620-17645  if open, trade and sustain above 17645 then, the Index may try to re-test 17695-17715-17740-17792-17825-17855 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 17545-17525-17500-17470-17425-17385-17360-17325 levels.

Special Mention: Yesterday, the Nifty index traded with the consolidation mode due to, US FED meet, the outcome of the meet is in line with the expectation, the FED Chair's tone and given a positivity note has boosted the world stock indices, by tracking this development today, the Nifty index may try to surpass above 17645, if moves and sustains above 17645 then, the Index re-test the all time high 17792 then, it may reach till 18020 in the near term. On the other hand if, the Index face any weakness at 17645-17695, then, the  Index once again re-visit 17326 levels, further weakness below 17325-17260 levels, may darg the Index till 17055-16700 levels in the near term. Let see, how the Index opens today at 17620-17645 levels, the intraday volatility may be in high note due to today's weekly option expiry and tomorrow's week-end factor, trade with due caution is my advise in this juncture and avoid aggressive short position. 

Trading Strategy: The followers/readers, those who re-invested near 17500 levels, try to start book profit partially with 5-9% return or near 17700-17800 levels if the Nifty index moves there.

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