08.11.21-Monday, 8.42 am

Good Morning Members

What has happened on Thursday? Nifty Index, as expected and written, opened on a positive note at 17935.05, our expected opening band i.e.,17900-17950, on opening move, the Index traded in a narrow range between 17947.55 to 17900.60 and closed at 17916.80 on a positive note with an intra gain 87.60 points i.e., 0.49%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a positive note near 17950-17985 if open, trade and sustain above 17985 then, the Index may try to test 18015-18050-18065-18095-18125-18185-18205-18240 levels. On the other hand, the immediate support lies at 17920-17900, if the Index moves below 17900 then, it may re-visit 17865-17820-17785-17760-17730-17700 levels.

Special Mention: On Thursday, the Nifty Index traded in narrow range between 17900-17950 and closed well below 17945, today the Index must trade above 17985-18015, if moves above 18015 then it may re-test 18150-18240-18340 levels in the near term. On the other hand if, the Index fails to move above 18015-18065 and trades below 17900-17865 then, the weakness may drag the Index till 17750-17610 levels very soon. Let see, how the Index opens today at 17950-17985 levels.

Nifty Bank index: Nifty Bank index, on Thursday traded in narrow range between 39734-39514 and closed at 39573, today the Nifty Bank Index must move above 39775-39850 levels to continue the pull back rally till 40040-40160-40280-40400 levels. On the other hand the strong support seen 39575-39520 levels, any weakness below 39520 then, it may re-visit 39410-39300-39120-38985 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.