02.11.21-Tuesday, 8.42 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive 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 17950-17975-17995 if open, trade and sustain above 17995 then, the Index may try to re-test  18020-18050-18075-18110-18130-18165-18195 levels. On the other hand, the immediate support lies at 17900-17880-17860, if the Index moves below 17860 then, it may re-visit 17830-17795-17755-17725-17700-17665-17635-17615 levels.

Special Mention: Yesterday, the Nifty Index took strong support near 17700 levels, the pull back rally lifted the Index till first level resistance zone i.e., 17950-17970-17995, made a high 17954.10 and closed very well above 17860 levels, today the Index must surpass 17950-17970-17995 levels to continue the pull back rally to test 18150-18350 levels in the near term. On the other hand if, the Index unable to move above 17995 and moves below 17860-17795 then, it may try to re-visit 17665-17610-17565-17450 levels soon. Let see, how the Index opens today at 17950-17970-17995 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, yesterday moved up till 39862 and closed near 39770, today it must move above 40000-40110-40150 levels to continue the pull back rally till 40500-40800-41000 levels. On the other hand the immediate support lies near 39700-39600, further weakness below 39600 then, it may re-visit 39450-39300-39200-39000 levels.

Trading Strategy: The followers/readers, those who invested near 17700-17600 start book partial profit near 18000-18350 levels or the stocs you have invested gives a profit 3-5% return.

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.