28.10.21-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 18295.85, our expected opening band i.e.,18260-18295, on opening move, the Index made a day high 18342.05 thereafter, the Index traded in range bound move, the last hour sell-off dragged down, made a day low 18167.90 and closed at 18210.95 on a negative note with an intra loss -57.45 points i.e., -0.31%.

What will happen today? Nifty Index may open on a flat to positive note 18210-18230-18250 if open, trade and sustain above 18250 then, the Index may try to re-test 18275-18295-18320-18340-18385-18420-18445-18465-18500-18540 levels. On the other hand, the immediate support lies at 18210-18185-18165, if the Index moves below 18165 then, it may re-visit 18150-18135-18115-18085-18055-18010-17970-17950 levels.

Special Mention: Yesterday, the pull back rally lifted the Index beyond our threshold resistance levels, i.e., 18315, made a high 18342.05 and closed well below 18250 levels, today the Index must take support 18200-18100 to continue the pull back rally and should move above 18285-18345-18385 to re-test 18460-18500 further, upmove above 18500 then, the Index may test 18600-18660-18780 levels in the near term. On the other hand if, the Index fails to move above 18285-18345 and moves below 18200-18100 levels then, the weakness cum sell-off may continue to drag the Index to re-visit 18050-17970-17890 levels in the near term. Let see, how the Index opens today at 18210-18230-18250 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, today's F&O expiry and tomorrow's week-cum-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.