10.11.21-Wednesday, 8.34 am

Good Morning Members

What has happened yesterday? Nifty Index, as expected and written, opened on a positive note at 18084.35, our expected opening band i.e.,18065-18090-18110, on opening move, the Index moved up and made a day high 18112.60 further, the Index moved down, made a day low 17983.05 and closed at 18044.25 on a negative note with an intra los -24.30 points i.e., -0.13%.

What will happen today? 

Nifty Index: Today, the Nifty Index may open on a negative note near 18015-17985-17950 if open, trade and sustain below  17950 then, the Index may try to re-visit 17935-17915-17895-17865-17840-17800-17760 levels. On the other hand, the immediate resistance seen at 18065-18095, if the Index moves above 18095 then, it may re-test 18115-18130-18150-18185-18220-18260-18310-18340 levels.

Special Mention: Yesterday, the Nifty Index continued the pull back rally till 18112.60 and closed well above 18k, today the Index must take support 18000-17950, if take support and moves above 18050-18115 then it may re-test 18240-18340-18490 levels in the near term. On the other hand if, the Index fails to move above 18050-18115 and trades below 17950 then, the weakness may drag the Index till 17760-17610 levels very soon. Let see, how the Index opens today at 18015-17985-17950 levels, we can expect high intraday volatilty till week-end due to, tomorrow's weekly option expiry and Friday's week-end factor.

Nifty Bank index: Nifty Bank index, yesterday opened near 39517.85 on the opening move, it made a day high 39560.60 thereafter, the Index moved down, made a day low 39223.40 and closed 39368.80, today the Nifty Bank Index must break either 39560-39675 levels on the upperside or it should move below 39223-38932 on the lowerside to take further direction, if the Index moves above 39675 levels then, it may continue the pull back rally till 39775-40000-40160-40280-40500 levels. On the other hand if, Index breaks 38932 then, it may re-visit 38730-38590-38450-38300 levels.

Trading Strategy: The followers/readers, those who invested near 17700-17600 start book partial profit near 18115-18350 levels or the stocks you have invested gives a profit 3-6% 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

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Wishing you for a safe, secured and profitable trading.