22.10.21-Friday, 8.46 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a flat to positive note at 18382.70, our expected opening band i.e.,18325-18355-18375, on opening move, the Index made a day high 18384.20 thereafter, the Index moved down throughout the day, made a day low 18048 and closed at 18266.60 on a negative note ith an intra loss 88.50 points i.e., -0.48%.

What will happen today? Nifty Index may open on a positive note near 18240-18270-18290 if open, trade and sustain above 18290 then, the Index may try to re-test 18320-18350-18385-18415-18440-18460-18485-18515-18540 levels. On the other hand, the immediate support lies at 18210-18175, if the Index moves below 18175 then, it may re-visit 18140-18115-18080 -18050-18025-18000-17950 levels.

Special Mention: Yesterday, the Index as expected the technical sell-off conitnued till our threshold support level till 18050, made a low 18048, further the pull back lifted the Index till 18200 and closed well above 18150, today the Index must trade above 18240-18275, if the Index moves above 18275 levels then, it may re-test 18385-18460-18550-18600 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 18275-18385 and moves below 18175-18050 levels then, the weakness cum sell-off may continue to drag the Index to re-visit 17950-17800 levels in the near term. Let see, how the Index opens today at 18240-18270-18290 levels. It looks the Index took short term support near 18050, today the pull back rally may continue till 18275-18385, further move above may lift the Index till 18440-18600 levels, trade with due caution and avoid agressive short position and adopt buy on dips strategy, the intra volatility may be in a high note today, due to week-end factor.

Trading Strategy: The followers/readers, who invested at 18200-18050, start partial profit booking till 18350-18450-18600 levles or if the stocks that you have invested gives 5-10% profit.

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.