01.10.21-Friday, 8.34 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, contrary to  our expectatiion, opened on a flat to posiitive note at 17718.90, our expected opening band i.e.,17695-17670-17650, on opening move, the Index made a low 17659 thereafter, the Index moved up with a volatile move, made a day high 17742.15, further, the intra sell-off dragged down, made day low 17585.35 and closed at 17618.15 on a negative note with an intra loss -93.15 points i.e., -0.53%.

What will happen today? Nifty Index may open on a negative note with gap down near 17535-17510-17470 if open, trade and sustain below 17470 then, the Index may try to re-visit 17425-17400-17365-17330-17300-17270 levels. On the other hand, the immediate resistance seen at 17545-17585 if, the Index moves above 17585 then, it may try to re-test 17620-17645-17685-17710-17745-17780-17792-17820 levels.

Special Mention: Yesterday, the Nifty index unable to break 17780 and moved down till 17585 traded with a negative bias and closed well below 17665, today the Index must take support near 17435-17330, if  break 17330-17270 then, the Index may re-visit 17150-17060 very soon. On the other hand if, the Index take support 17500-17435 then, it may try to re-test 17585-17665-17792, further the pull back above 17792, may take the Index till recent all time high levels i.e.,17947 in the near term. Let see, how the Index opens today at 17535-17510-17470 levels, the intraday volatility may be in high note today, due to week-end factor. 

Trading Strategy: The followers/readers, try to re-invest in the Nifty50 stocks, especially in the Nifty IT stocks, around 17500-17300 levels with a short term perspective, to gain 5-10% return.

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