12.10.21-Tuesday, 8.34 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, contrary to our expectation, opened on a negative note at 17867.85, our expected opening band i.e.,17900-17930-17945, on opening move, the Index made a day low 17839.10 thereafter, the Index moved up and made a day high 18041.95, further the last hour weakness dragged and closed at 17945.95 on a positive note with an intra gain 50.75 points i.e., 0.28%.

What will happen today? Nifty Index may open on a flat to negative note near 17915-17885-17865 if open, trade and sustain below 17865 then, the Index may try to re-visit 17840-17815-17792-17775-17745-17715-17665 levels. On the other hand, the immediate resistance seen at 17985-18015, if the Index moves above 18015 then, it may test 18040-18080-18100-18135-18165 levels.

Special Mention: Yestrerday, the Index as written and expected surpassed the all time high level i.e., 17947 and made a new all time high 18041.95, the brief intra sell-off dragged the Index and closed near 17947, today the Index must move above 18015-18040 to continue the northward journey to test 18085-18150-18240-18300 levels in the near term. On the other hand if, the Index fails to move above 18015-18040 and moves below 17885-17840 levels then, the weakness cum sell-off, may drag the Index to re-visit 17790-17620-17590-17435 levels in the near term. Let see, how the Index opens today at 17915-17885-17865 levels, the intra volatility may be in a high note this week due to long week-end factor.

Trading Strategy: The followers/readers, who invested last week try to book profit in a partial manner, if the Nifty Index not moves above 17950-18050 or if, the stocks, which you have bought gives 5-10% profit and stay invested on dips near 17600-17450 levels.

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