20.10.21-Wednesday, 8.34 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a positive note at 18602.35, our expected opening band i.e.,18535-18575, on opening move, the Index made a day high 18604.45 thereafter, the Index moved down till 18400 further, it moved up near day high till 18590 levels, once again the last hour sell-off dragged the Index, made a day low 18377.70 and closed at 18418.75 on a negative bias with an intra loss 58.30 points i.e., -0.32%.

What will happen today? Nifty Index may open on a flat to positive note near 18420-18445-18465 if open, trade and sustain above 18465 then, the Index may try to re-test 18490-18520-18540-18575-18595-18605 levels. On the other hand, the immediate support lies at 18410-18380, if the Index moves below 18380 then, it may re-visit 18355-18315-18275-18250-18215-18170 levels.

Special Mention: Yesterday, the Index conitnued the northward journey, made a fresh all time high 18604.45 but, the Index unable to sustain above 18600, the anticipated technical sell-off dragged the index till 18377 and closed well below 18445, today the Index must trade above 18450-18500, if the Index moves above 18500 levels then, it may re-test 18600 further, up move above 18600 then, the Index may test 18660-18780 levels in the near term. On the other hand if, the Index fails to move above 18445-18500-18545 and moves below 18400-18350 levels then, the weakness cum sell-off may continue to drag the Index to re-visit 18250-18050 levels in the near term. Let see, how the Index opens today at 18420-18445-18465 levels. It looks the  technical sell-off may continue, unless the Nifty Index re-gain above 18550 levels, trade with due caution and avoid agressive short position and adopt buy on dips strategy, the intra volatility may be in high note due to tomorrow's weekly option expiry and Friday's week-end factor.

Trading Strategy: The followers/readers, who booked profit, stay invested in partial manner till 18350-18200-18050 levles in Nifty50 stocks for a short term perspective to gain 5-10%.

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