04.11.21-Thursday, 6.03 pm- Diwali Muhurat Trading

Good Morning Members... BISTA Wishing you and your family a Happy Diwali

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 17947.95, our expected opening band i.e.,17930-17970, on opening move, the Index made a day high 17988.75 thereafter, throughout the day it moved down, made a day low 17757.95 and closed at 17829.50 on a negative note with an intra loss -59.75 points i.e., -0.33%.

What will happen today? 

Nifty Index: Being a Diwali Muhurat special trading session, the Nifty Index may open on a positive note 17900-17950 if open, trade and sustain above 17950 then, the Index may try to test 17985-18025-18055 levels. On the other hand, the immediate support lies at 17875-17845, if the Index moves below 17845 then, it may re-visit 17810-17785-17760 levels.

Special Mention: Yesterday, the Nifty Index unable to continue the pull back rally beyond our next level resistance zone i.e., 17995-18020, made a high 17988.75 levels and closed well below 17900, today the Index may trade in a narrow range between  17985-17830, only on 08th Nov-Monday, the index may take clear direction. Let see, how the Index opens today at 17900-17950 levels.

Nifty Bank index: Nifty Bank index, yesterday moved up till 40160, the sell-off dragged till 39304 and closed at 39402.05, today it must move above 39775-39865 levels to continue the pull back rally. On the other hand the strong support seen 39350-39150, mostly it may trade in a range between 39350-39865 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.