28.09.21-Tuesday, 8.36 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 17932.20, our expected opening band i.e.,17880-17910-17926, on opening move, the Index made a day high 17943.50 thereafter, the Index moved down, made a day low 17802.90 and closed at 17855.10 on a flat to positive note with an intra marginal gain 1.90 points i.e., 0.01%.

What will happen today? Nifty Index may open on a flat to positive note near 17870-17895-17925 if open, trade and sustain above 17925 then, the Index may try to test 17947-17965-17980-18000-18020-18050-18095-18145 levels. On the other hand, the immediate support lies at 17845-17820 if, the Index moves below 17820 then, it may try to re-visit 17790-17765-17740-17717-17682-17645 levels.

Special Mention: Yesterday, the Nifty index unable to continue the northward journey and traded in the range bound cum consolidation move, took support near 17800 and closed well above 17850; today, the Nifty index must move above 17895-17947, if the Index moves and sustain above 17947 then, it may test 17980-18020-18080-18145 levels in the near term. On the other hand if, the Index fails to sustain and trade above 17900-17947 then, the weakness may drag the Index till 17820-17790 levels, further sell-off below 17790 levels, may drag the Index to re-visit 17720-17645-17565 levels in the near term. Let see, how the Index opens today at 17870-17895-17925 levels, the intraday volatility may be in high note this week, due to F&O expiry, month-end and quarterly-end factor, trade with due caution at higher levels, is my advise in this juncture. 

Trading Strategy: The followers/readers, those who re-invested near 17500-17350 levels, try to book profit with 10-15% return or if, the Nifty index moves near 18020-18150 levels to book profit and wait for further dips to re-invest.

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