29.10.21-Friday, 8.42 am

Good Morning followers & readers 

What has happened yesterday? Nifty Index, contrary to our expectation, opened on a negative note at 18187.95, our expected opening band i.e.,18210-18230-18250, on opening move, the Index made a day high 18190.70 thereafter, the Index moved down throughout the day, made a day low 17799.45 and closed at 17857.25 on a negative note with an intra loss -353.70 points i.e., -1.94%.

What will happen today? Nifty Index may open on a flat note 17860-17890-17920 if open, trade and sustain above 17920 then, the Index may try to re-test 17950-17970-17995-18025-18045-18070-18100-18145-18190 levels. On the other hand, the immediate support lies at 17845-17795, if the Index moves below 17795 then, it may re-visit 17745-17725-17695-17665-17625-17590 levels.

Special Mention: Yesterday, the pull back rally failed to sustain above 18250, the wild sell-off dragged down the Index, made a low 17799.45 and closed well below 17890 levels, today the Index must take support 17795-17760 to pause the down move else, further weakness below 17760, may drag the index till 17615-17550-17450 very soon. On the other hand if, the Index moves up and sustains above 17890-17965 then, it may try to re-test 18050-18250-18340 levels in the near term.  Let see, how the Index opens today at 17860-17890-17920 levels. It looks, the sell-off may continue some more trading sessions, trade with due caution and avoid agressive long position and adopt buy on dips strategy till 17900-17750-17620 levels, the intra volatility may be in a high note due to, today's week-cum-month-end factor.

Trading Strategy: The followers/readers, those who booked profit  start invest in a partial manner in Nifty50 stocks with short to medium term perspective till 17900-17450 levels to again 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

For further details please do call us on 98410 48022 or contact thro' whatsapp: 99624 70636. Please read carefully, the Disclaimer published in the Disclaimer page.

Wishing you for a safe, secured and profitable trading.