27.10.21-Wednesday, 8.34 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, as written and expected, opened on a positive note at 18154.50, our expected opening band i.e.,18160-18190-18220, on opening move, the Index made a high 18265 thereafter, the Index moved down and made a day low 18099.30, further the last hour pull back rally lifted the Index, made a day high 18310.45 and closed at 18268.40 on a positive note with an intra gain 143 points i.e., 0.79%.

What will happen today? Nifty Index may open on a flat note near 18260-18295 if open, trade and sustain above 18295 then, the Index may try to re-test 18315-18360-18385-18420-18440-18465-18500 levels. On the other hand, the immediate support lies at 18240-18205, if the Index moves below 18205 then, it may re-visit 18180-18150-18125-18100-18050-18010-17970-17950 levels.

Special Mention: Yesterday, the pull back rally lifted the Index till our threshold resistance levels, i.e., 18315, made a high 18310.45 and closed well above 18250 levels, today the Index must take support 18250-18200 to continue the pull back rally and should move above 18315 to re-test 18385-18460 further, upmove above 18460 then, the Index may test 18600-18660-18780 levels in the near term. On the other hand if, the Index fails to move above 18270-18315 and moves below 18200-18150 levels then, the weakness cum sell-off may continue to drag the Index to re-visit 17970-17800 levels in the near term. Let see, how the Index opens today at 18270-18295 levels, trade with due caution and avoid agressive long position and adopt buy on dips strategy till 18000-17900 levels, the intra volatility may be in a high note due to, tomorrow's F&O expiry and Friday's month-end factor.

Trading Strategy: The followers/readers, who invested at 18200-18050, start partial profit booking till 18350-18450 levels 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.