04.10.21-Monday, 8.46 am

Good Morning followers & readers 

What has happened on Friday? Nifty Index, as expected and written, opened on a negative note at 17531.90, our expected opening band i.e.,17535-17470, on opening move, the Index made a day low 17452.90 thereafter, the Index moved up with a volatile move, made a day high 17552, further, the intra sell-off dragged down till day low and moved up once again, made a day high 17557.15 and closed at 17532.05 on a negative note with an intra loss -86.10 points i.e., -0.49%.

What will happen today? Nifty Index may open on a flat to positive note near 17530-17560 if open, trade and sustain above 17560 then, the Index may try to re-test 17575-17600-17640-17675-17700-17730-17775-17792 levels. On the other hand, the immediate support lies at 17500-17475 if, the Index moves below 17475 then, it may try to re-visit 17455-17435-17400-1770-1735-17300-17260 levels.

Special Mention: On Friday, the Nifty index continued the sell-off till our threshold levels, i.e., 17435, made a low 17452.90 and closed below 17535, today the Index must move above 17560-17600-17640, if moves and sustains above 17640 then, the pull back rally may continue till 17700-17792, further upmove above 17792, may take the index till 17840-17890-17945 levels in the near term. On the other hand if, the Index fails to move above 17570-17600-17640 then, the weakness cum sell-off, may drag the Index to re-visit 17455-17435, further move below 17435, may drag the index till 17330-17250 levels very soon. Let see, how the Index opens today at 17530-17560 levels. 

Trading Strategy: The followers/readers, try to re-invest in the Nifty50 stocks, especially in the Nifty IT stocks, around 17500-17300-17050 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