01.11.21-Monday, 8.34 am

Good Morning followers & readers,

What has happened on Friday? Nifty Index, as expected and written, opened on a psoitive note at 17783.15, our expected opening band i.e.,17730-17765, on opening move, the Index made a low 17697.10 thereafter, throughout the day it moved up and made a day high 17954.10 and closed at 17929.65 on a positive note with an intra gain 258 points i.e., 1.46%.

What will happen today? 

Nifty Index: Nifty Index may open on a positive note 17730-17765 if open, trade and sustain above 17765 then, the Index may try to re-test 17785-17825-17845-17880-17915-17935-17950-17975-17995-18020 levels. On the other hand, the immediate support lies at 17705-17685, if the Index moves below 17685 then, it may re-visit 17650-17615-17585-17558-17530-17500-17455-17425 levels.

Special Mention: On Friday, the Nifty Index sell-off continued till our threshold support levels, i.e., 17615, made a low 17613.10 and closed very well below 17800 levels, today the Index must take support 17700-17613 to pause the down move else, further weakness below 17610, may drag the index till 17550-17450-17330 very soon. On the other hand if, the Index moves up and sustains above 17800-17915 then, it may try to re-test 18050-18200-18340 levels in the near term.  Let see, how the Index opens today at 17730-17765 levels, the intraday volatility may be in a high note this week due to Diwali Holiday and long week-end.

Nifty Bank index: Nifty Bank index may face resistance near 39260-39350, further up move above 39350 it may re-test 39485-39620-39775-40000 levels. On the other hand the immediate suppot lies near 38940-38750, further weakness below 38750 then, it may re-visit 38580-38430-38375-38325-38060 levels.

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 17600-17450 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.