21.10.21-Thursday, 8.34 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a flat to positive note at 18439.90, our expected opening band i.e.,18420-18445-18465, on opening move, the Index made a day high 18458.30 thereafter, the Index moved down throughout the day, made a day low 18209.35 and closed at 18266.60 on a negative bias with an intra loss 152.15 points i.e., -0.83%.

What will happen today? Nifty Index may open on a positive note near 18325-18355-18375 if open, trade and sustain above 18375 then, the Index may try to re-test 18405-18430-18460-18485-18525-18560-18595 levels. On the other hand, the immediate support lies at 18305-18285, if the Index moves below 18285 then, it may re-visit 18250-18210-18195-18165-18140-18100-18050 levels.

Special Mention: Yesterday, the Index as expected the technical sell-off conitnued till 18209.35 and closed well below 18350, today the Index must trade above 18350-18375, if the Index moves above 18375 levels then, it may re-test 18460-18550-18600 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 18375-18460 and moves below 18300-18200 levels then, the weakness cum sell-off may continue to drag the Index to re-visit 18150-18050-17950 levels in the near term. Let see, how the Index opens today at 18325-18355-18375 levels. It looks the Index may trade between 18460-18210 with a consolidation mode to form an inside day pattern, subject to not break either of the said ranges. 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 today's weekly option expiry and tomorrow'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.