03.11.21-Wednesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 17970.90, our expected opening band i.e.,17950-17975-17995, on opening move, the Index made a day high 18012.25 thereafter, it moved down, made a day low 17847.60 and closed at 17888.95 on a negative note with an intra loss -40.70 points i.e., -0.236%.

What will happen today? 

Nifty Index: Nifty Index may open on a positive note 17930-17970 if open, trade and sustain above 17970 then, the Index may try to re-test 17995-18015-18050-18075-18110-18130-18165-18195-18230 levels. On the other hand, the immediate support lies at 17910-17885, if the Index moves below 17885 then, it may re-visit 17850-17815-17790-17765-17730-17705-17660-17635-17615 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally to the next level resistance zone i.e., 17995-18020, made a high 18012.25 levels and closed well below 17995, today the Index must surpass 17970-18015 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 18015 and moves below 17895-17850 then, it may try to re-visit 17665-17610-17565-17450 levels soon. Let see, how the Index opens today at 17930-17970 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 40107.60 and closed just below 40000, today it must move above 40130-40250-40330 levels to continue the pull back rally till 40520-40800-41000 levels. On the other hand the immediate support lies near 39780-39650, further weakness below 39600 then, it may re-visit 39475-39350-39230-39120-39000 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 and stay invested till 17600-17450 levels.

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.