13.10.21-Wednesday, 8.34 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a negative note at 17915.80, our expected opening band i.e.,17915-17865, on opening move, the Index made a high 17995 thereafter, the Index moved down and made a day low 17864.95, further the Index moved up, made a day high 18008.65 and closed at 17991.95 on a positive note with an intra gain 46 points i.e., 0.26%.

What will happen today? Nifty Index may open on a positive note near 18010-18042 if open, trade and sustain above 18042 then, the Index may try to test 18080-18110-18135-18165-18195 levels. On the other hand, the immediate support lies at 18000-17975, if the Index moves below 17975 then, it may re-visit 17945-17915-17885-17865-17825-17795 levels.

Special Mention: Yestrerday, the Index unable to continue the northward journey, traded in a narrow range with consolidation and made an inside day pattern i.e., either not broken the previous day high or low point, it infers the indecisiveness, today the index must break 18042 levels to cointinue the upward move to test 18145-18250-18450 levels in the near term. On the other hand if, the Index fails to move above 18015-18042 and moves below 18005-17975-17945 levels then, the weakness cum sell-off, may drag the Index to re-visit 17840-17790-17615-17450 levels in the near term. Let see, how the Index opens today at 18010-18042 levels, the intra volatility may be in a high note due to  tomorrow's weekly option expiry and long week-end factor, trade with due caution at the higher levels and avoid agressive short or long positions.

Trading Strategy: The followers/readers, who invested last week try to book profit, if the Nifty Index not moves above 18000-18050-18075 or if, the stocks, which you have bought gives 10-15 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