18.10.21-Monday, 8.34 am

Good Morning followers & readers 

What has happened on Thursday? Nifty Index, as written and expected, opened on a positive note at 18272.85, our expected opening band i.e.,18195-18225-18245, on opening move, the Index made a high 18322 thereafter, the Index moved down and made a day low 18248.70, further the last hour up move lifted the Index, made a day high 18350.75 and  closed at 18338.65 on a positive note with an intra gain 176.80 points i.e., 0.97%.

What will happen today? Nifty Index may open on a positive note near 18390-18415-18440 if open, trade and sustain above 18440 then, the Index may try to test 18470-18490-18510-18540-18575 levels. On the other hand, the immediate support lies at 18350-18320, if the Index moves below 18320 then, it may re-visit 18300-18275-18250-18220-18195-18165-18150-18130-18100 levels.

Special Mention: On Thursday, the Index conitnued the northward journey, made a fresh all time high 18350.75 and closed 18338.55, today the Index must trade above 18390-18420, if the Index moves above 18420 levels then, it may test 18440-18470-18510-18540-18575 levels in the near term. On the other hand if, the Index fails to move above 18390-18440 and moves below 18350-18200 levels then, the weakness cum sell-off, may drag the Index to re-visit 18050-17945 levels in the near term. Let see, how the Index opens today at 18390-18415-18440 levels. The minor technical sell-off till 18200-17950 possible very soon, trade with due caution at the higher levels and avoid agressive short or long positions and adopt buy on dips strategy.

Trading Strategy: The followers/readers, who invested last week try to book profit, if the Nifty Index not moves above 18400-18500 or if, the stocks, which you have bought gives 10-15 profit and stay invested on dips near 17950-17800 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